Chicago City Wire

Chicago City Wire

Wednesday, April 1, 2020

Former state university employee Eisenberg paid in $31K to pension fund, could collect $626K in retirement


By Local Labs News Service | Nov 1, 2018

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Former state university employee Linda Eisenberg, who retired in October 2018, saved $31,325 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eisenberg would collect as much as $626,282, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Eisenberg received $13,164 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eisenberg will have already received $40,689 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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