Former state university employee Ross paid in $348K to pension fund, could collect $9.2M in retirement

By Local Labs News Service

Dec 1, 2016

Former state university employee Brian Ross, who retired in November 2016, saved $347,617 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ross would collect as much as $9.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ross received $193,284 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ross will have already received $392,367 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

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