Will County Gazette

Will County Gazette

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Former state university employee Burgholzer paid in $104K to pension fund, could collect $2.34M in retirement


By Local Labs News Service | May 1, 2016

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Former state university employee Anthony Burgholzer, who retired in April 2016, saved $104,169 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burgholzer would collect as much as $2.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Burgholzer received $49,163 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Burgholzer will have already received $151,958 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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