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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Brierton paid in $5K to pension fund, could collect $146K in retirement

Money041

Former state university employee Jeffrey Brierton, who retired in August 2016, saved $5,023 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brierton would collect as much as $145,694, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brierton received $3,062 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brierton will have already received $6,216 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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