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Sangamon Sun

Monday, November 25, 2024

Former state university employee Mueller paid in $100K to pension fund, could collect $1.95M in retirement

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Former state university employee Linda Mueller, who retired in February 2016, saved $100,243 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mueller would collect as much as $1.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mueller received $40,980 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mueller will have already received $126,664 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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