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Sangamon Sun

Tuesday, November 26, 2024

Former state university employee Dunkel paid in $92K to pension fund, could collect $2.12M in retirement

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Former state university employee Ronald Dunkel, who retired in July 2018, saved $91,648 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dunkel would collect as much as $2.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Dunkel received $44,552 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dunkel will have already received $137,707 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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