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

Schools

By Local Labs News Service | Dec 1, 2018

Shutterstock 443523112

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.

Want to get notified whenever we write about City Colleges of Chicago ?

Sign-up Next time we write about City Colleges of Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City Colleges of Chicago

More News