Chicago City Wire

Chicago City Wire

Friday, November 22, 2019

Former state university employee Moreno paid in $64K to pension fund, could collect $1.23M in retirement


By Local Labs News Service | Feb 1, 2017

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Former state university employee Kathleen Moreno, who retired in January 2017, saved $63,782 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moreno would collect as much as $1.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Moreno received $25,809 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moreno will have already received $79,772 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 Urbana Champaign

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