Dupage Policy Journal

Dupage Policy Journal

Wednesday, November 13, 2019

Former state university employee Garcia paid in $43K to pension fund, could collect $586K in retirement


By Local Labs News Service | Mar 1, 2019

Shutterstock 225154648

Former state university employee Glenda Garcia, who retired in February 2019, saved $42,859 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Garcia would collect as much as $585,748, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Garcia received $12,312 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Garcia will have already received $51,507 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about College of Dupage ?

Sign-up Next time we write about College of Dupage, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

College of Dupage

More News