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West Central Reporter

Sunday, November 24, 2024

Former state university employee Biagini paid in $3K to pension fund, could collect $80K in retirement

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Former state university employee Bruce Biagini, who retired in April 2018, saved $2,984 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Biagini would collect as much as $79,686, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Biagini received $1,674 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Biagini will have already received $3,398 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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