Former state university employee Paulson paid in $10K to pension fund, could collect $239K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee John Paulson, who retired in January 2018, saved $10,468 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Paulson would collect as much as $239,448, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Paulson received $5,033 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Paulson will have already received $15,557 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Chicago State University

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