Quantcast

Chicago City Wire

Sunday, May 25, 2025

Former state university employee Burton paid in $281K to pension fund, could collect $3.91M in retirement

Money 05

Former state university employee William Burton, who retired in June 2017, saved $281,495 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burton would collect as much as $3.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Burton received $82,266 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Burton will have already received $344,170 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS