Chicago City Wire

Chicago City Wire

Monday, November 18, 2019

Former state university employee Barsevick paid in $29K to pension fund, could collect $430K in retirement

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By Local Labs News Service | Feb 1, 2019

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Former state university employee Mary Barsevick, who retired in January 2019, saved $29,302 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Barsevick would collect as much as $430,462, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Barsevick received $9,048 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Barsevick will have already received $37,853 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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