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South Cook News

Thursday, December 26, 2024

Former state university employee Bullitt paid in $7K to pension fund, could collect $90K in retirement

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Former state university employee Jacqueline Bullitt, who retired in July 2016, saved $6,967 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bullitt would collect as much as $90,214, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Bullitt received $1,896 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bullitt will have already received $7,933 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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