Chicago City Wire

Chicago City Wire

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Former state university employee Escalante paid in $40K to pension fund, could collect $634K in retirement


By Local Labs News Service | Oct 1, 2017

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Former state university employee Yolanda Escalante, who retired in September 2017, saved $40,427 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Escalante would collect as much as $633,596, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Escalante received $13,317 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Escalante will have already received $41,163 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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