Quantcast

Chicago City Wire

Monday, December 23, 2024

Former state university employee Ladner Mathis paid in $59K to pension fund, could collect $851K in retirement

Money 02

Former state university employee Jocelyn Ladner Mathis, who retired in August 2016, saved $59,128 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ladner Mathis would collect as much as $851,253, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ladner Mathis received $17,892 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ladner Mathis will have already received $74,854 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS