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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Bubon paid in $7K to pension fund, could collect $98K in retirement

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Former state university employee James Bubon, who retired in December 2017, saved $6,732 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bubon would collect as much as $97,619, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bubon received $2,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bubon will have already received $8,581 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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