Chicago City Wire

Chicago City Wire

Saturday, March 28, 2020

Former state university employee Wurtzebach paid in $8K to pension fund, could collect $195K in retirement


By Local Labs News Service | Nov 1, 2018

Shutterstock 385535740

Former state university employee Mary Wurtzebach, who retired in October 2018, saved $8,466 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wurtzebach would collect as much as $195,169, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wurtzebach received $4,102 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wurtzebach will have already received $12,679 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about City Colleges of Chicago ?

Sign-up Next time we write about City Colleges of Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City Colleges of Chicago

More News