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Sangamon Sun

Monday, November 25, 2024

Former state university employee Musch paid in $19K to pension fund, could collect $348K in retirement

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Former state university employee Randal Musch, who retired in January 2017, saved $18,920 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Musch would collect as much as $347,789, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Musch received $7,310 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Musch will have already received $22,594 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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