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Sangamon Sun

Wednesday, July 23, 2025

Former state university employee Knop paid in $68K to pension fund, could collect $1.29M in retirement

Money272

Former state university employee Kenneth Knop, who retired in January 2016, saved $67,521 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Knop would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Knop received $27,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knop will have already received $83,763 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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