Chicago City Wire

Chicago City Wire

Wednesday, February 19, 2020

Former state university employee Boardman paid in $97K to pension fund, could collect $2.32M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

Money041

Former state university employee Ruth Boardman, who retired in December 2017, saved $96,855 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Boardman would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Boardman received $48,732 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Boardman will have already received $98,926 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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