Quantcast

North Cook News

Saturday, May 17, 2025

Former state university employee Fitzpatrick paid in $2K to pension fund, could collect $112K in retirement

Shutterstock 381111379

Former state university employee Charles Fitzpatrick, who retired in October 2017, saved $2,160 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fitzpatrick would collect as much as $112,348, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Fitzpatrick received $2,361 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Fitzpatrick will have already received $2,361 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS