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Chicago City Wire

Saturday, April 20, 2024

Former state university employee Brewer paid in $75K to pension fund, could collect $1.67M in retirement

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Former state university employee Judith Brewer, who retired in March 2019, saved $74,530 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brewer would collect as much as $1.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brewer received $35,040 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brewer will have already received $108,305 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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