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Chicago City Wire

Tuesday, December 24, 2024

Former state university employee De La Haye paid in $59K to pension fund, could collect $750K in retirement

Money 02

Former state university employee Mario De La Haye, who retired in August 2016, saved $59,054 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, De La Haye would collect as much as $750,146, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes De La Haye received $15,767 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, De La Haye will have already received $65,963 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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