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DeKalb Times

Monday, November 18, 2024

Former state university employee Kurbis paid in $18K to pension fund, could collect $275K in retirement

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Former state university employee Merilee Kurbis, who retired in April 2018, saved $17,557 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kurbis would collect as much as $275,204, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Kurbis received $5,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kurbis will have already received $17,879 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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