Quantcast

Chicago City Wire

Tuesday, April 23, 2024

Former state university employee Nightlinger paid in $170K to pension fund, could collect $4.26M in retirement

Shutterstock 233512279

Former state university employee Brian Nightlinger, who retired in May 2018, saved $169,823 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nightlinger would collect as much as $4.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Nightlinger received $89,499 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Nightlinger will have already received $181,683 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS