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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Moore paid in $39K to pension fund, could collect $659K in retirement

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Former state university employee Patricia Moore, who retired in March 2017, saved $38,965 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moore would collect as much as $659,458, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Moore received $13,861 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moore will have already received $42,843 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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