Dupage Policy Journal

Dupage Policy Journal

Tuesday, February 18, 2020

Former state university employee Gutierrez paid in $27K to pension fund, could collect $383K in retirement


By Local Labs News Service | Feb 1, 2019

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Former state university employee Robert Gutierrez, who retired in January 2019, saved $27,467 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gutierrez would collect as much as $383,077, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Gutierrez received $8,052 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Gutierrez will have already received $33,688 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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