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Chicago City Wire

Saturday, August 2, 2025

Former state university employee Byrd paid in $40K to pension fund, could collect $695K in retirement

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Former state university employee Brett Byrd, who retired in July 2016, saved $40,352 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Byrd would collect as much as $695,442, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Byrd received $14,617 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Byrd will have already received $45,181 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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