Former state university employee Freesmeier paid in $14K to pension fund, could collect $206K in retirement

By East Central Reporter Reports

Jul 1, 2017

Former state university employee Don Freesmeier, who retired in June 2017, saved $13,800 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Freesmeier would collect as much as $206,399, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Freesmeier received $4,338 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Freesmeier will have already received $18,148 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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