Quantcast

Chicago City Wire

Friday, May 3, 2024

Former state university employee Fortier paid in $54K to pension fund, could collect $2.76M in retirement

Money 04

Former state university employee Andrew Fortier, who retired in January 2016, saved $53,716 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fortier would collect as much as $2.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Fortier received $57,967 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Fortier will have already received $57,967 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS