Quantcast

South Cook News

Friday, April 26, 2024

Former state university employee Guzzo paid in $12K to pension fund, could collect $141K in retirement

Money 08

Former state university employee Leslie Guzzo, who retired in July 2018, saved $12,384 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Guzzo would collect as much as $140,950, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Guzzo received $2,962 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Guzzo will have already received $12,393 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS