Former state university employee Guensburg paid in $156K to pension fund, could collect $4.1M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Thomas Guensburg, who retired in January 2016, saved $156,048 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Guensburg would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Guensburg received $86,122 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Guensburg will have already received $174,828 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Southern Illinois University At Edwardsville

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