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Chambana Sun

Friday, April 19, 2024

Former state university employee Busse paid in $17K to pension fund, could collect $570K in retirement

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Former state university employee Todd Busse, who retired in December 2017, saved $16,578 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Busse would collect as much as $569,586, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Busse received $11,972 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Busse will have already received $24,303 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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