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Sangamon Sun

Thursday, July 31, 2025

Former state university employee Klapp paid in $2K to pension fund, could collect $43K in retirement

Money 06

Former state university employee Harold Klapp, who retired in May 2017, saved $1,882 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Klapp would collect as much as $43,474, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Klapp received $913 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Klapp will have already received $2,821 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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