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Chicago City Wire

Monday, July 14, 2025

Former state university employee Burnside paid in $59K to pension fund, could collect $1.09M in retirement

Money 05

Former state university employee Jo Burnside, who retired in January 2016, saved $58,785 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burnside would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Burnside received $22,858 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burnside will have already received $70,652 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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