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Chicago City Wire

Thursday, April 18, 2024

Former state university employee Ruebush paid in $34K to pension fund, could collect $1.55M in retirement

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Former state university employee Deborah Ruebush, who retired in December 2017, saved $34,241 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ruebush would collect as much as $1.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ruebush received $32,562 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ruebush will have already received $66,101 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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