Quantcast

Chicago City Wire

Saturday, May 24, 2025

Former state university employee Bradford paid in $20K to pension fund, could collect $650K in retirement

Money 05

Former state university employee Barbara Bradford, who retired in April 2017, saved $20,470 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bradford would collect as much as $650,152, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bradford received $13,665 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bradford will have already received $27,740 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS