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Chicago City Wire

Monday, December 23, 2024

Former state university employee Bobin Guardian paid in $34K to pension fund, could collect $723K in retirement

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Former state university employee Alexander Bobin Guardian, who retired in August 2016, saved $33,988 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bobin Guardian would collect as much as $722,959, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bobin Guardian received $15,196 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bobin Guardian will have already received $46,970 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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