Former state university employee Bi paid in $29K to pension fund, could collect $267K in retirement

By Local Labs News Service

Oct 1, 2018

Former state university employee Jian Bi, who retired in September 2018, saved $28,747 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bi would collect as much as $267,411, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bi received $5,620 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Bi will have already received $29,840 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Chicago

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