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South Cook News

Sunday, February 23, 2020

Former state university employee Bruckner paid in $10K to pension fund, could collect $248K in retirement


By Local Labs News Service | Feb 1, 2018

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Former state university employee Barry Bruckner, who retired in January 2018, saved $10,428 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bruckner would collect as much as $247,944, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Bruckner received $5,211 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bruckner will have already received $10,578 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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