West Cook News

West Cook News

Wednesday, April 1, 2020

Former state university employee Hartigan paid in $786 to pension fund, could collect $197K in retirement

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By West Cook News | Mar 1, 2017

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Former state university employee Russell Hartigan, who retired in February 2017, saved $786 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hartigan would collect as much as $196,613, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Hartigan received $4,132 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hartigan will have already received $4,132 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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