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Sangamon Sun

Monday, September 30, 2024

Former state university employee Mueller paid in $11K to pension fund, could collect $192K in retirement

Money 04

Former state university employee Diane Mueller, who retired in June 2017, saved $10,927 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mueller would collect as much as $192,029, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mueller received $4,036 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mueller will have already received $12,475 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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