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Chicago City Wire

Saturday, May 24, 2025

Former state university employee Neuberger paid in $183K to pension fund, could collect $4.01M in retirement

Money041

Former state university employee Babette Neuberger, who retired in September 2016, saved $183,047 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Neuberger would collect as much as $4.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Neuberger received $84,275 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Neuberger will have already received $260,485 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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