Will County Gazette

Will County Gazette

Friday, February 21, 2020

Former state university employee Crotty paid in $11K to pension fund, could collect $212K in retirement


By Local Labs News Service | May 1, 2016

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Former state university employee Frank Crotty, who retired in April 2016, saved $10,574 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crotty would collect as much as $211,971, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Crotty received $4,455 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crotty will have already received $13,771 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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