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DeKalb Times

Monday, November 18, 2024

Former state university employee Daurer paid in $127K to pension fund, could collect $4.1M in retirement

Money041

Former state university employee Jeffrey Daurer, who retired in March 2018, saved $126,658 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Daurer would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Daurer received $86,139 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Daurer will have already received $174,862 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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