Monday, January 20, 2020

Former state university employee Go paid in $164K to pension fund, could collect $3.3M in retirement

By Local Labs News Service | Jan 1, 2018

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Former state university employee Elizabeth Go, who retired in December 2017, saved $164,467 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Go would collect as much as $3.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Go received $69,349 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Go will have already received $214,350 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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