Quantcast

Chicago City Wire

Saturday, April 20, 2024

Former state university employee Hursey paid in $46K to pension fund, could collect $921K in retirement

Shutterstock 65427295

Former state university employee Robin Hursey, who retired in April 2018, saved $46,419 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hursey would collect as much as $920,635, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Hursey received $19,351 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hursey will have already received $59,813 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS