Quantcast

DeKalb Times

Saturday, November 23, 2024

Former state university employee Eisele paid in $72K to pension fund, could collect $1.28M in retirement

Shutterstock 249974521

Former state university employee Janice Eisele, who retired in June 2016, saved $72,325 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eisele would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Eisele received $26,962 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eisele will have already received $83,337 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS