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Sangamon Sun

Monday, November 25, 2024

Former state university employee Burris paid in $116K to pension fund, could collect $1.76M in retirement

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Former state university employee Deborah Burris, who retired in January 2017, saved $116,040 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burris would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Burris received $37,047 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Burris will have already received $154,990 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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