Former state university employee Burke paid in $24K to pension fund, could collect $895K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Kathleen Burke, who retired in January 2018, saved $24,060 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burke would collect as much as $894,756, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Burke received $18,807 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Burke will have already received $38,178 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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