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Sangamon Sun

Monday, November 25, 2024

Former state university employee Engelmeyer paid in $48K to pension fund, could collect $568K in retirement

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Former state university employee Amy Engelmeyer, who retired in November 2017, saved $47,913 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Engelmeyer would collect as much as $568,136, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Engelmeyer received $11,941 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Engelmeyer will have already received $49,956 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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