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Chicago City Wire

Tuesday, April 23, 2024

Former state university employee Ruppert paid in $104K to pension fund, could collect $1.3M in retirement

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Former state university employee Brian Ruppert, who retired in October 2017, saved $103,687 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ruppert would collect as much as $1.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ruppert received $27,353 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ruppert will have already received $114,436 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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