Former state university employee MacAludos paid in $160K to pension fund, could collect $2.31M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Patricia MacAludos, who retired in January 2016, saved $160,171 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, MacAludos would collect as much as $2.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes MacAludos received $48,580 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, MacAludos will have already received $203,239 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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