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Chicago City Wire

Friday, April 19, 2024

Former state university employee Vazquez paid in $6K to pension fund, could collect $126K in retirement

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Former state university employee Delia Vazquez, who retired in November 2018, saved $5,893 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vazquez would collect as much as $125,599, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Vazquez received $2,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vazquez will have already received $8,160 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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