Sangamon Sun

Sangamon Sun

Thursday, December 5, 2019

Former state university employee Heckenkamp paid in $7K to pension fund, could collect $376K in retirement

Schools

By Local Labs News Service | May 1, 2018

Money041

Former state university employee Debra Heckenkamp, who retired in April 2018, saved $6,770 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Heckenkamp would collect as much as $376,420, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Heckenkamp received $7,912 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Heckenkamp will have already received $7,912 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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