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Chicago City Wire

Sunday, May 5, 2024

Former state university employee Roberts paid in $32K to pension fund, could collect $523K in retirement

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Former state university employee Nina Roberts, who retired in August 2018, saved $32,226 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Roberts would collect as much as $522,652, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Roberts received $10,985 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Roberts will have already received $33,954 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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