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Chicago City Wire

Sunday, May 5, 2024

Former state university employee Manderson paid in $6K to pension fund, could collect $39K in retirement

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Former state university employee Afrah Brenda Manderson, who retired in January 2018, saved $5,707 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Manderson would collect as much as $38,821, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Manderson received $816 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 7 years of retirement, Manderson will have already received $6,250 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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