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East Central Reporter

Saturday, November 23, 2024

Former state university employee Wurtzberger paid in $41K to pension fund, could collect $603K in retirement

Money 04

Former state university employee Mary Wurtzberger, who retired in December 2016, saved $41,266 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wurtzberger would collect as much as $602,578, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Wurtzberger received $12,665 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wurtzberger will have already received $52,985 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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