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DeKalb Times

Friday, November 15, 2024

Former state university employee Musselman paid in $60K to pension fund, could collect $956K in retirement

Money 05

Former state university employee Tina Musselman, who retired in August 2018, saved $60,129 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Musselman would collect as much as $955,694, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Musselman received $20,088 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Musselman will have already received $62,091 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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