Chicago City Wire

Chicago City Wire

Saturday, March 28, 2020

Former state university employee Reilly paid in $142K to pension fund, could collect $1.78M in retirement


By Local Labs News Service | Nov 1, 2018


Former state university employee James Reilly, who retired in October 2018, saved $141,663 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reilly would collect as much as $1.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Reilly received $37,344 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Reilly will have already received $156,233 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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