Chicago City Wire

Chicago City Wire

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Former state university employee Benz paid in $32K to pension fund, could collect $570K in retirement


By Local Labs News Service | Dec 1, 2017

Money 05

Former state university employee Judith Benz, who retired in November 2017, saved $32,023 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Benz would collect as much as $569,609, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Benz received $11,972 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Benz will have already received $37,004 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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