Chicago City Wire

Chicago City Wire

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Former state university employee Guenther paid in $14K to pension fund, could collect $503K in retirement


By Local Labs News Service | Jan 1, 2018

Money 05

Former state university employee Laura Guenther, who retired in December 2017, saved $13,768 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Guenther would collect as much as $502,910, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Guenther received $10,570 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Guenther will have already received $21,457 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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