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Chicago City Wire

Monday, April 7, 2025

Former state university employee Burke paid in $99K to pension fund, could collect $2.39M in retirement

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Former state university employee Kevin Burke, who retired in January 2016, saved $98,752 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burke would collect as much as $2.39 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Burke received $50,317 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Burke will have already received $102,144 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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