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Sangamon Sun

Tuesday, April 16, 2024

Former state university employee Turpen paid in $12K to pension fund, could collect $570K in retirement

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Former state university employee Curtis Turpen, who retired in September 2017, saved $12,297 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Turpen would collect as much as $569,569, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Turpen received $11,971 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Turpen will have already received $24,301 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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