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Chicago City Wire

Friday, April 19, 2024

Former state university employee Anast paid in $82K to pension fund, could collect $1.04M in retirement

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Former state university employee Hara Anast, who retired in August 2018, saved $82,261 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Anast would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Anast received $21,756 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Anast will have already received $91,019 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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