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Chicago City Wire

Monday, June 2, 2025

Former state university employee Lara paid in $18K to pension fund, could collect $170K in retirement

Money 01

Former state university employee Ana Lara, who retired in September 2018, saved $18,076 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lara would collect as much as $169,787, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Lara received $3,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Lara will have already received $18,943 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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