Quantcast

Chicago City Wire

Tuesday, May 27, 2025

Former state university employee Van Breemen paid in $298K to pension fund, could collect $6.31M in retirement

Shutterstock 434242897

Former state university employee Richard Van Breemen, who retired in January 2018, saved $297,949 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Van Breemen would collect as much as $6.31 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Van Breemen received $132,656 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Van Breemen will have already received $410,027 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS