Chicago City Wire

Chicago City Wire

Tuesday, November 19, 2019

Former state university employee Weisenburn paid in $159K to pension fund, could collect $2.93M in retirement


By Local Labs News Service | Feb 1, 2016

Shutterstock 373239541

Former state university employee Wesley Weisenburn, who retired in January 2016, saved $158,677 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Weisenburn would collect as much as $2.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Weisenburn received $61,507 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weisenburn will have already received $190,112 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