Report: Former U of I VP defends enhanced pension
CHICAGO – An administrator who retired after years as the University of Illinois’ vice president for business and finance is drawing a pension under a more lucrative formula intended for university police and firefighters, instead of the formula used for regular university employees, according to a published report.
As a result, Craig Bazzani, who had served as vice president since 1983, was able to retire with full benefits in 2002 at age 55, the Chicago Tribune reported Friday.
A Tribune analysis found that Bazzani has received about $365,000 more in pension payouts over the last decade than he would have under the regular formula. During that time, he has gotten about $2.7 million from the State Universities Retirement System of Illinois, or SURS.
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