Former state university employee Cozzi paid in $37K to pension fund, could collect $445K in retirement

By Local Labs News Service

Apr 1, 2017

Former state university employee Sherri Cozzi, who retired in March 2017, saved $37,384 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cozzi would collect as much as $445,243, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cozzi received $9,358 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cozzi will have already received $39,151 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Chicago

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate