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DeKalb Times

Sunday, November 24, 2024

Former state university employee Strausberger paid in $38K to pension fund, could collect $638K in retirement

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Former state university employee Mona Strausberger, who retired in April 2017, saved $38,003 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Strausberger would collect as much as $638,323, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Strausberger received $13,417 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Strausberger will have already received $41,472 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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