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Sangamon Sun

Saturday, November 23, 2024

Former state university employee Keller paid in $44K to pension fund, could collect $829K in retirement

Money 04

Former state university employee Brenda Keller, who retired in June 2016, saved $44,207 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Keller would collect as much as $829,410, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Keller received $17,433 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Keller will have already received $53,884 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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