Quantcast

DeKalb Times

Sunday, November 24, 2024

Former state university employee Krull paid in $109K to pension fund, could collect $2.46M in retirement

Shutterstock 434242897

Former state university employee Maria Krull, who retired in July 2017, saved $109,160 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Krull would collect as much as $2.46 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Krull received $51,729 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Krull will have already received $159,889 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS