Chicago City Wire

Chicago City Wire

Friday, April 3, 2020

Former state university employee Williams paid in $30K to pension fund, could collect $413K in retirement


By Local Labs News Service | Oct 1, 2018

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Former state university employee Dacron Williams, who retired in September 2018, saved $30,448 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $412,764, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Williams received $8,676 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Williams will have already received $36,296 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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