Chicago City Wire

Chicago City Wire

Saturday, March 28, 2020

Former state university employee Junker paid in $9K to pension fund, could collect $658K in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Shutterstock 381111379

Former state university employee Linda Junker, who retired in January 2016, saved $9,472 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Junker would collect as much as $658,453, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Junker received $13,840 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Junker will have already received $13,840 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about City Colleges of Chicago ?

Sign-up Next time we write about City Colleges of Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

City Colleges of Chicago

More News