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East Central Reporter

Tuesday, November 26, 2024

Former state university employee Suksang paid in $136K to pension fund, could collect $3.21M in retirement

Money759

Former state university employee Duangrudi Suksang, who retired in June 2016, saved $136,221 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Suksang would collect as much as $3.21 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Suksang received $67,477 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Suksang will have already received $136,978 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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