Dupage Policy Journal

Dupage Policy Journal

Wednesday, November 20, 2019

Former state university employee Bhattacharyya paid in $40K to pension fund, could collect $711K in retirement

Schools

By Local Labs News Service | Feb 1, 2019

Money 07

Former state university employee Anjali Bhattacharyya, who retired in January 2019, saved $39,509 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bhattacharyya would collect as much as $710,776, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Bhattacharyya received $14,940 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bhattacharyya will have already received $46,178 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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