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DeKalb Times

Monday, November 18, 2024

Former state university employee Klimpke paid in $13K to pension fund, could collect $221K in retirement

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Former state university employee Sherri Klimpke, who retired in March 2018, saved $13,311 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Klimpke would collect as much as $220,854, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Klimpke received $4,642 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Klimpke will have already received $14,347 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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