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Chicago City Wire

Friday, April 26, 2024

Former state university employee Nora paid in $30K to pension fund, could collect $1.82M in retirement

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Former state university employee Amaury Nora, who retired in March 2019, saved $30,138 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nora would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Nora received $38,172 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Nora will have already received $38,172 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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