Chicago City Wire

Chicago City Wire

Thursday, November 21, 2019

Former state university employee Ziegler paid in $68K to pension fund, could collect $1.79M in retirement


By Local Labs News Service | May 27, 2019

Money 07

Former state university employee Bernard Ziegler, who retired in April 2019, saved $68,313 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ziegler would collect as much as $1.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ziegler received $37,680 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ziegler will have already received $76,490 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about University of Illinois at Chicago ?

Sign-up Next time we write about University of Illinois at Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

University of Illinois at Chicago

More News