Former state university employee Guest paid in $18K to pension fund, could collect $689K in retirement

By Local Labs News Service

Jul 1, 2017

Former state university employee Doris Guest, who retired in June 2017, saved $17,794 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Guest would collect as much as $689,236, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Guest received $14,487 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Guest will have already received $29,409 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 Chicago

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