South Cook News

South Cook News

Sunday, December 8, 2019

Former state university employee Small paid in $82K to pension fund, could collect $1.37M in retirement


By Local Labs News Service | Jan 1, 2018

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Former state university employee Jacquelyn Small, who retired in December 2017, saved $81,671 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Small would collect as much as $1.37 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Small received $28,871 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Small will have already received $89,237 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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