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

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.

ORGANIZATIONS IN THIS STORY

University of Illinois at Chicago

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate