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DeKalb Times

Sunday, November 24, 2024

Former state university employee Moller paid in $16K to pension fund, could collect $208K in retirement

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Former state university employee Cynthia Moller, who retired in January 2019, saved $16,418 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Moller would collect as much as $207,809, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Moller received $4,368 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Moller will have already received $18,274 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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