Former state university employee Ross paid in $35K to pension fund, could collect $561K in retirement

By Local Labs News Service

Apr 1, 2017

Former state university employee Josephine Ross, who retired in March 2017, saved $34,944 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ross would collect as much as $560,543, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ross received $11,782 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $36,416 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University Illinois of Chicago

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