Chicago City Wire

Chicago City Wire

Saturday, March 28, 2020

Former state university employee Pavlovic paid in $62K to pension fund, could collect $1.22M in retirement


By Local Labs News Service | Dec 1, 2018

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Former state university employee Carolyn Pavlovic, who retired in November 2018, saved $61,796 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pavlovic would collect as much as $1.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Pavlovic received $25,692 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pavlovic will have already received $79,412 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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