Sangamon Sun

Sangamon Sun

Monday, February 17, 2020

Former state university employee Abler paid in $119K to pension fund, could collect $2.49M in retirement

Schools

By Local Labs News Service | Oct 1, 2018

Money 05

Former state university employee William Abler, who retired in September 2018, saved $119,408 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Abler would collect as much as $2.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Abler received $52,369 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Abler will have already received $161,867 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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