Quantcast

Chicago City Wire

Sunday, September 29, 2024

Former state university employee Curalli paid in $76K to pension fund, could collect $1.14M in retirement

Shutterstock 197358977

Former state university employee Joseph Curalli, who retired in December 2016, saved $76,042 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Curalli would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Curalli received $24,016 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Curalli will have already received $100,472 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS