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North Cook News

Saturday, November 23, 2024

Former state university employee Rosen paid in $10K to pension fund, could collect $240K in retirement

Money272

Former state university employee Andrea Rosen, who retired in July 2016, saved $9,709 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rosen would collect as much as $239,820, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Rosen received $5,040 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rosen will have already received $10,231 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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