Former state university employee Gylys paid in $25K to pension fund, could collect $424K in retirement

By Local Labs News Service

Apr 1, 2016

Former state university employee Dana Gylys, who retired in March 2016, saved $25,241 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gylys would collect as much as $424,073, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Gylys received $8,913 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gylys will have already received $27,548 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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