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South Cook News

Sunday, April 6, 2025

Former state university employee Burnson paid in $827 to pension fund, could collect $442K in retirement

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Former state university employee Lawrence Burnson, who retired in April 2016, saved $827 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burnson would collect as much as $442,354, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Burnson received $9,297 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Burnson will have already received $9,297 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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