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Sangamon Sun

Tuesday, November 26, 2024

Former state university employee Kruse paid in $20K to pension fund, could collect $303K in retirement

Money 02

Former state university employee Vicki Kruse, who retired in July 2018, saved $20,171 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kruse would collect as much as $303,019, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kruse received $6,369 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kruse will have already received $26,646 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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