Chicago City Wire

Chicago City Wire

Tuesday, March 31, 2020

Former state university employee Eisenmann paid in $136K to pension fund, could collect $3.31M in retirement


By Local Labs News Service | Feb 1, 2016

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Former state university employee David Eisenmann, who retired in January 2016, saved $136,370 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eisenmann would collect as much as $3.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Eisenmann received $69,654 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Eisenmann will have already received $141,398 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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