Former state university employee Gomez paid in $41K to pension fund, could collect $681K in retirement

By Local Labs News Service

Feb 1, 2017

Former state university employee Rosa Gomez, who retired in January 2017, saved $41,416 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gomez would collect as much as $680,964, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gomez received $14,313 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gomez will have already received $44,239 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Chicago

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