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Sangamon Sun

Monday, November 25, 2024

Former state university employee Ketterman paid in $6K to pension fund, could collect $180K in retirement

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Former state university employee Kathy Ketterman, who retired in February 2016, saved $6,235 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ketterman would collect as much as $180,280, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ketterman received $3,789 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ketterman will have already received $7,692 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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