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Chicago City Wire

Monday, November 25, 2024

Former state university employee Bryan paid in $39K to pension fund, could collect $710K in retirement

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Former state university employee Connie Bryan, who retired in February 2017, saved $39,397 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bryan would collect as much as $710,405, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bryan received $14,932 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bryan will have already received $46,153 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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