Chicago City Wire

Chicago City Wire

Monday, November 18, 2019

Former state university employee Vanpuyenbroeck paid in $76K to pension fund, could collect $1.46M in retirement

Schools

By Local Labs News Service | Jan 1, 2019

Shutterstock 113962678

Former state university employee Linda Vanpuyenbroeck, who retired in December 2018, saved $75,791 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vanpuyenbroeck would collect as much as $1.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Vanpuyenbroeck received $30,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vanpuyenbroeck will have already received $94,915 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about University of Illinois at Chicago ?

Sign-up Next time we write about University of Illinois at Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

University of Illinois at Chicago

More News