Former state university employee Cho paid in $43K to pension fund, could collect $645K in retirement

By Local Labs News Service

Oct 1, 2018

Former state university employee Seungjin Cho, who retired in September 2018, saved $43,446 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cho would collect as much as $645,345, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cho received $13,564 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cho will have already received $56,747 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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