Dupage Policy Journal

Dupage Policy Journal

Tuesday, December 10, 2019

Former state university employee Maes paid in $10K to pension fund, could collect $293K in retirement

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By Local Labs News Service | Feb 1, 2016

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Former state university employee Mary Maes, who retired in January 2016, saved $9,739 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Maes would collect as much as $292,754, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Maes received $6,153 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Maes will have already received $12,491 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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