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Kane County Reporter

Monday, November 25, 2024

Former state university employee Busse paid in $36K to pension fund, could collect $568K in retirement

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Former state university employee Barbara Busse, who retired in May 2017, saved $35,920 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Busse would collect as much as $568,444, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Busse received $11,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Busse will have already received $36,929 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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