Lake County Gazette

Lake County Gazette

Saturday, December 14, 2019

Former state university employee Blass paid in $46K to pension fund, could collect $585K in retirement

Schools

By Local Labs News Service | Apr 1, 2019

Money 08

Former state university employee Carole Blass, who retired in March 2019, saved $46,041 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Blass would collect as much as $585,177, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Blass received $12,300 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Blass will have already received $51,458 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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