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Chicago City Wire

Sunday, September 29, 2024

Former state university employee Rudicil paid in $123K to pension fund, could collect $2.07M in retirement

Money 01

Former state university employee Janet Rudicil, who retired in December 2016, saved $123,287 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rudicil would collect as much as $2.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rudicil received $43,451 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rudicil will have already received $134,304 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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