Chicago City Wire

Chicago City Wire

Saturday, March 28, 2020

Former state university employee Lynch paid in $95K to pension fund, could collect $2.14M in retirement


By Local Labs News Service | Oct 1, 2018

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Former state university employee Pamela Lynch, who retired in September 2018, saved $95,050 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lynch would collect as much as $2.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lynch received $45,023 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lynch will have already received $139,162 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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