Chicago City Wire

Chicago City Wire

Friday, November 15, 2019

Former state university employee Hopper paid in $67K to pension fund, could collect $1.31M in retirement


By Local Labs News Service | Jun 1, 2017

Money 06

Former state university employee Terri Hopper, who retired in May 2017, saved $66,556 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hopper would collect as much as $1.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hopper received $27,484 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hopper will have already received $84,951 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 University of Illinois at Urbana Champaign ?

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

Organizations in this Story

University of Illinois at Urbana Champaign

More News