Chicago City Wire

Chicago City Wire

Monday, January 27, 2020

Former state university employee Buettner paid in $266K to pension fund, could collect $5.43M in retirement


By Local Labs News Service | Feb 1, 2016

Shutterstock 233512279

Former state university employee Kathryn Buettner, who retired in January 2016, saved $266,172 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Buettner would collect as much as $5.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Buettner received $114,055 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buettner will have already received $352,533 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

Want to get notified whenever we write about University of Illinois at Chicago ?

Sign-up Next time we write about University of Illinois at Chicago, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

University of Illinois at Chicago

More News