South Cook News

South Cook News

Wednesday, February 26, 2020

Former state university employee Paus paid in $43K to pension fund, could collect $802K in retirement


By Local Labs News Service | Sep 1, 2018


Former state university employee Nancy Paus, who retired in August 2018, saved $42,958 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Paus would collect as much as $802,498, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Paus received $16,867 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Paus will have already received $52,134 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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