Former state university employee Li paid in $7K to pension fund, could collect $263K in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee Chunfang Li, who retired in January 2019, saved $6,753 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Li would collect as much as $263,187, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Li received $5,532 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Li will have already received $11,230 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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