Dupage Policy Journal

Dupage Policy Journal

Thursday, April 2, 2020

Former state university employee Lach paid in $31K to pension fund, could collect $754K in retirement

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By Local Labs News Service | Nov 1, 2016

Money272

Former state university employee Loretta Lach, who retired in October 2016, saved $30,713 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lach would collect as much as $753,937, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lach received $15,847 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lach will have already received $32,169 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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