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Sangamon Sun

Monday, November 25, 2024

Former state university employee Verhulst paid in $16K to pension fund, could collect $234K in retirement

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Former state university employee Bonnie Verhulst, who retired in January 2017, saved $15,886 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Verhulst would collect as much as $234,048, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Verhulst received $4,919 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Verhulst will have already received $20,581 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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