Former state university employee Frey paid in $54K to pension fund, could collect $928K in retirement

By Local Labs News Service

Apr 1, 2016

Former state university employee Randall Frey, who retired in March 2016, saved $54,388 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Frey would collect as much as $928,462, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Frey received $19,515 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Frey will have already received $60,318 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Chicago

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