Will County Gazette

Will County Gazette

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Former state university employee Fitzgerald paid in $93K to pension fund, could collect $1.74M in retirement

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By Local Labs News Service | Aug 1, 2017

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Former state university employee Dorothea Fitzgerald, who retired in July 2017, saved $92,899 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fitzgerald would collect as much as $1.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Fitzgerald received $36,674 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fitzgerald will have already received $113,355 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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