Former state university employee Blake paid in $179K to pension fund, could collect $4.97M in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Nancy Blake, who retired in January 2018, saved $178,841 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Blake would collect as much as $4.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Blake received $104,459 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Blake will have already received $212,052 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

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