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Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Traylor paid in $13K to pension fund, could collect $212K in retirement

Money 08

Former state university employee Barbara Traylor, who retired in July 2018, saved $13,282 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Traylor would collect as much as $211,965, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Traylor received $4,455 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Traylor will have already received $13,771 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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