Chicago City Wire

Chicago City Wire

Thursday, October 17, 2019

Former state university employee Barnhart paid in $173K to pension fund, could collect $4.7M in retirement

Schools

By Local Labs News Service | Jan 1, 2018


Former state university employee Leanne Barnhart, who retired in December 2017, saved $172,612 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Barnhart would collect as much as $4.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Barnhart received $98,862 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Barnhart will have already received $200,690 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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