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South Cook News

Tuesday, December 24, 2024

Former state university employee Suhayda paid in $12K to pension fund, could collect $174K in retirement

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Former state university employee Susan Suhayda, who retired in June 2016, saved $11,672 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Suhayda would collect as much as $174,331, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Suhayda received $3,664 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Suhayda will have already received $15,329 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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