Will County Gazette

Will County Gazette

Thursday, April 9, 2020

Former state university employee Sosa paid in $49K to pension fund, could collect $686K in retirement


By Local Labs News Service | Oct 1, 2016

Money 05

Former state university employee Teri Sosa, who retired in September 2016, saved $48,830 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sosa would collect as much as $686,450, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Sosa received $14,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sosa will have already received $60,362 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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