Chicago City Wire

Chicago City Wire

Saturday, February 22, 2020

Former state university employee Forlenza paid in $1K to pension fund, could collect $43K in retirement


By Local Labs News Service | Apr 1, 2019

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Former state university employee Brigid Forlenza, who retired in March 2019, saved $1,350 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Forlenza would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Forlenza received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Forlenza will have already received $1,827 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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