Quantcast

Lake County Gazette

Wednesday, May 7, 2025

Former state university employee Delgado paid in $5K to pension fund, could collect $124K in retirement

Money041

Former state university employee Fernando Delgado, who retired in January 2016, saved $5,459 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Delgado would collect as much as $123,760, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Delgado received $2,601 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Delgado will have already received $8,039 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS