Quantcast

Sangamon Sun

Thursday, April 25, 2024

Former state university employee Rampenthal paid in $43K to pension fund, could collect $1M in retirement

Shutterstock 385535740

Former state university employee Kim Rampenthal, who retired in March 2018, saved $42,877 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rampenthal would collect as much as $1 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Rampenthal received $21,095 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rampenthal will have already received $65,203 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS