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Chicago City Wire

Tuesday, April 23, 2024

Former state university employee Barimah paid in $98K to pension fund, could collect $2.19M in retirement

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Former state university employee Charisse Barimah, who retired in June 2017, saved $97,911 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Barimah would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Barimah received $46,071 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Barimah will have already received $142,401 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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