Former state university employee Ojeda paid in $42K to pension fund, could collect $742K in retirement

By Local Labs News Service

Jul 1, 2018

Former state university employee Josephine Ojeda, who retired in June 2018, saved $42,129 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ojeda would collect as much as $742,119, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ojeda received $15,598 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ojeda will have already received $48,212 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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