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Sangamon Sun

Saturday, November 23, 2024

Former state university employee Naperschat paid in $37K to pension fund, could collect $320K in retirement

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Former state university employee Kelly Naperschat, who retired in June 2016, saved $37,255 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Naperschat would collect as much as $319,866, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Naperschat received $6,723 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Naperschat will have already received $43,489 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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