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DeKalb Times

Saturday, November 16, 2024

Former state university employee Yenerich paid in $38K to pension fund, could collect $732K in retirement

Money 06

Former state university employee Patricia Yenerich, who retired in July 2018, saved $38,382 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Yenerich would collect as much as $731,546, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Yenerich received $15,376 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Yenerich will have already received $47,525 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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