Former state university employee Rutschman paid in $155K to pension fund, could collect $3.6M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee David Rutschman, who retired in January 2016, saved $155,009 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rutschman would collect as much as $3.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rutschman received $75,645 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rutschman will have already received $233,810 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Northeastern Illinois University

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