Chicago City Wire

Chicago City Wire

Saturday, October 19, 2019

Former state university employee Ho paid in $139K to pension fund, could collect $1.74M in retirement

Schools

By Local Labs News Service | Feb 1, 2019


Former state university employee Elaine Ho, who retired in January 2019, saved $138,705 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ho would collect as much as $1.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ho received $36,588 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ho will have already received $153,073 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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