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Chicago City Wire

Wednesday, December 25, 2024

Former state university employee Walker paid in $3K to pension fund, could collect $170K in retirement

Money 01

Former state university employee Darcy Walker, who retired in November 2016, saved $2,703 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $169,501, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Walker received $3,562 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Walker will have already received $3,562 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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