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Chicago City Wire

Friday, April 26, 2024

Former state university employee Einfalt paid in $73K to pension fund, could collect $1.52M in retirement

Money041

Former state university employee Lisa Einfalt, who retired in April 2018, saved $73,079 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Einfalt would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Einfalt received $31,944 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Einfalt will have already received $98,735 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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