Former state university employee Budde paid in $43K to pension fund, could collect $738K in retirement

By East Central Reporter Reports

Jan 1, 2017

Former state university employee David Budde, who retired in December 2016, saved $43,309 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Budde would collect as much as $737,517, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Budde received $15,502 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Budde will have already received $47,915 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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