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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Scorza paid in $24K to pension fund, could collect $152K in retirement

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Former state university employee Mary Scorza, who retired in January 2019, saved $24,187 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Scorza would collect as much as $152,431, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Scorza received $3,204 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 7 years of retirement, Scorza will have already received $24,549 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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