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DeKalb Times

Sunday, December 22, 2024

Former state university employee Menke paid in $48K to pension fund, could collect $779K in retirement

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Former state university employee Dawn Menke, who retired in August 2016, saved $47,612 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Menke would collect as much as $778,760, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Menke received $16,368 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Menke will have already received $50,592 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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