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South Cook News

Friday, December 27, 2024

Former state university employee Lahey paid in $421 to pension fund, could collect $114K in retirement

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Former state university employee Linda Lahey, who retired in June 2016, saved $421 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lahey would collect as much as $114,004, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Lahey received $2,396 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Lahey will have already received $2,396 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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