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West Cook News

Tuesday, April 23, 2024

Former state university employee Airhart paid in $100K to pension fund, could collect $2.11M in retirement

Money041

Former state university employee Catherine Airhart, who retired in January 2019, saved $99,507 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Airhart would collect as much as $2.11 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Airhart received $44,304 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Airhart will have already received $136,939 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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