Quantcast

Dupage Policy Journal

Thursday, April 18, 2024

Former state university employee Wardzala paid in $10K to pension fund, could collect $227K in retirement

Shutterstock 369740408

Former state university employee Michelle Wardzala, who retired in November 2016, saved $10,016 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wardzala would collect as much as $227,402, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Wardzala received $4,779 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wardzala will have already received $14,771 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS