Quantcast

Sangamon Sun

Saturday, November 23, 2024

Former state university employee Behrhorst paid in $93K to pension fund, could collect $1.81M in retirement

Shutterstock 443523112

Former state university employee Virginia Behrhorst, who retired in June 2016, saved $93,055 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Behrhorst would collect as much as $1.81 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Behrhorst received $38,005 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Behrhorst will have already received $117,469 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS