Chicago City Wire

Chicago City Wire

Wednesday, February 26, 2020

Former state university employee Vertreace Doody paid in $204K to pension fund, could collect $4.14M in retirement


By Local Labs News Service | Feb 1, 2019

Shutterstock 434242897

Former state university employee Martha Vertreace Doody, who retired in January 2019, saved $203,981 toward a pension over 38 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vertreace Doody would collect as much as $4.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Vertreace Doody received $87,096 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vertreace Doody will have already received $269,205 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