Former state university employee Boyd Jackson paid in $29K to pension fund, could collect $758K in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Earnestine Boyd Jackson, who retired in January 2016, saved $29,291 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Boyd Jackson would collect as much as $757,842, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Boyd Jackson received $15,929 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Boyd Jackson will have already received $32,336 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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