Former state university employee Spindler paid in $6K to pension fund, could collect $152K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Dean Spindler, who retired in January 2018, saved $5,510 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Spindler would collect as much as $151,860, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Spindler received $3,192 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Spindler will have already received $6,480 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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