Former state university employee Soliman paid in $9K to pension fund, could collect $234K in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Richard Soliman, who retired in January 2016, saved $9,241 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Soliman would collect as much as $234,185, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Soliman received $4,922 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Soliman will have already received $9,992 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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