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West Cook News

Saturday, November 23, 2024

Former state university employee Marcy paid in $5K to pension fund, could collect $99K in retirement

Money 01

Former state university employee Kristina Marcy, who retired in March 2017, saved $5,163 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Marcy would collect as much as $98,572, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Marcy received $2,071 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marcy will have already received $6,401 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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