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Chicago City Wire

Tuesday, November 26, 2024

Former state university employee Dutta paid in $53K to pension fund, could collect $665K in retirement

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Former state university employee Ratna Dutta, who retired in September 2016, saved $53,099 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dutta would collect as much as $664,721, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dutta received $13,971 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dutta will have already received $58,450 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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