Chicago City Wire

Chicago City Wire

Sunday, October 20, 2019

Former state university employee Laramee paid in $152K to pension fund, could collect $3.08M in retirement

Schools

By Local Labs News Service | May 1, 2018


Former state university employee Roger Laramee, who retired in April 2018, saved $152,163 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Laramee would collect as much as $3.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Laramee received $64,773 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Laramee will have already received $200,206 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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