Lake County Gazette

Lake County Gazette

Monday, November 11, 2019

Former state university employee Duffy paid in $12K to pension fund, could collect $89K in retirement

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By Local Labs News Service | Feb 1, 2019

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Former state university employee Kari Duffy, who retired in January 2019, saved $12,049 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Duffy would collect as much as $89,061, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Duffy received $1,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Duffy will have already received $12,109 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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