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Lake County Gazette

Wednesday, April 24, 2024

Former state university employee Rose paid in $6K to pension fund, could collect $43K in retirement

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Former state university employee Barry Rose, who retired in March 2018, saved $5,685 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rose would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Rose received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Rose will have already received $5,824 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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