Chicago City Wire

Chicago City Wire

Saturday, November 16, 2019

Former state university employee Bourgeois paid in $80K to pension fund, could collect $1.73M in retirement


By Local Labs News Service | Jul 1, 2017

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Former state university employee Yolande Bourgeois, who retired in June 2017, saved $79,894 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bourgeois would collect as much as $1.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bourgeois received $36,397 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bourgeois will have already received $112,500 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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