Chicago City Wire

Chicago City Wire

Wednesday, November 13, 2019

Former state university employee Stevens paid in $13K to pension fund, could collect $289K in retirement

Schools

By Local Labs News Service | Aug 1, 2017

Money 08

Former state university employee Darlene Stevens, who retired in July 2017, saved $12,773 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stevens would collect as much as $288,678, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Stevens received $6,067 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stevens will have already received $18,752 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