Chicago City Wire

Chicago City Wire

Wednesday, January 22, 2020

Former state university employee Emerson paid in $206K to pension fund, could collect $3.46M in retirement


By Local Labs News Service | Feb 1, 2019


Former state university employee Thomas Emerson, who retired in January 2019, saved $206,396 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Emerson would collect as much as $3.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Emerson received $72,780 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Emerson will have already received $224,955 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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