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Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Pilarski paid in $5K to pension fund, could collect $192K in retirement

Money 01

Former state university employee Elizabeth Pilarski, who retired in June 2018, saved $4,585 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pilarski would collect as much as $191,521, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Pilarski received $4,025 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pilarski will have already received $8,171 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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