Former state university employee Joof paid in $15K to pension fund, could collect $388K in retirement

By Local Labs News Service

Oct 1, 2016

Former state university employee Baboucarr Joof, who retired in September 2016, saved $15,068 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Joof would collect as much as $387,644, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Joof received $8,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Joof will have already received $16,540 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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City Colleges of Chicago

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