Chicago City Wire

Chicago City Wire

Thursday, November 21, 2019

Former state university employee Durbin paid in $73K to pension fund, could collect $1.99M in retirement


By Local Labs News Service | Feb 1, 2016


Former state university employee Doreena Durbin, who retired in January 2016, saved $72,667 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Durbin would collect as much as $1.99 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Durbin received $41,892 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Durbin will have already received $85,041 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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