Chicago City Wire

Chicago City Wire

Sunday, November 17, 2019

Former state university employee Aschheim paid in $45K to pension fund, could collect $1.06M in retirement

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By Local Labs News Service | Feb 1, 2019

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Former state university employee Mark Aschheim, who retired in January 2019, saved $44,873 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Aschheim would collect as much as $1.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Aschheim received $22,284 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Aschheim will have already received $45,237 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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