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Sangamon Sun

Saturday, April 20, 2024

Former state university employee Ihle paid in $62K to pension fund, could collect $1.58M in retirement

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Former state university employee Carolyn Ihle, who retired in January 2016, saved $62,445 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ihle would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ihle received $33,300 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ihle will have already received $67,599 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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