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Chicago City Wire

Friday, April 26, 2024

Former state university employee Wickersham paid in $14K to pension fund, could collect $328K in retirement

Money 03

Former state university employee Bradley Wickersham, who retired in December 2017, saved $13,510 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wickersham would collect as much as $327,887, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wickersham received $6,891 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wickersham will have already received $13,989 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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