Quantcast

Sangamon Sun

Monday, July 21, 2025

Former state university employee Kageff paid in $123K to pension fund, could collect $2.27M in retirement

Shutterstock 443523118

Former state university employee Karl Kageff, who retired in May 2017, saved $122,555 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kageff would collect as much as $2.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kageff received $47,725 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kageff will have already received $147,514 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS