Former state university employee Chesner paid in $207K to pension fund, could collect $4.1M in retirement

By East Central Reporter Reports

Sep 1, 2016

Former state university employee Craig Chesner, who retired in August 2016, saved $206,658 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Chesner would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Chesner received $86,227 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chesner will have already received $266,519 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Eastern Illinois University

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