Former state university employee Xu paid in $36K to pension fund, could collect $562K in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Li Xu, who retired in January 2016, saved $36,083 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Xu would collect as much as $561,810, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Xu received $11,808 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Xu will have already received $36,497 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 Urbana Champaign

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