Former state university employee Rubel paid in $44K to pension fund, could collect $1.08M in retirement

By East Central Reporter Reports

Jun 1, 2018

Former state university employee Mark Rubel, who retired in May 2018, saved $44,069 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rubel would collect as much as $1.08 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Rubel received $22,643 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rubel will have already received $45,965 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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