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Dupage Policy Journal

Saturday, November 23, 2024

Former state university employee Chu paid in $18K to pension fund, could collect $437K in retirement

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Former state university employee Rose Chu, who retired in July 2016, saved $18,113 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Chu would collect as much as $437,227, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Chu received $9,190 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Chu will have already received $18,656 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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