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DeKalb Times

Friday, November 22, 2024

Former state university employee Birberick paid in $156K to pension fund, could collect $5M in retirement

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Former state university employee Anne Birberick, who retired in May 2018, saved $155,528 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Birberick would collect as much as $5 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Birberick received $105,103 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Birberick will have already received $213,359 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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