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Dupage Policy Journal

Friday, April 19, 2024

Former state university employee Burdick paid in $158K to pension fund, could collect $1.84M in retirement

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Former state university employee Susan Burdick, who retired in April 2016, saved $157,791 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burdick would collect as much as $1.84 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Burdick received $38,693 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Burdick will have already received $161,879 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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