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Former state university employee Brown paid in $212K to pension fund, could collect $5.23M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former state university employee Anthony Brown, who retired in December 2017, saved $212,213 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brown would collect as much as $5.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brown received $109,904 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brown will have already received $223,105 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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