Chicago City Wire

Chicago City Wire

Wednesday, November 13, 2019

Former state university employee McDougal paid in $85K to pension fund, could collect $1.43M in retirement

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By Local Labs News Service | May 1, 2018

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Former state university employee Sarah McDougal, who retired in April 2018, saved $84,933 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McDougal would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes McDougal received $29,979 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McDougal will have already received $92,661 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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