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East Central Reporter

Tuesday, November 26, 2024

Former state university employee Poelker paid in $23K to pension fund, could collect $369K in retirement

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Former state university employee Brian Poelker, who retired in June 2016, saved $22,686 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Poelker would collect as much as $369,495, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Poelker received $7,766 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Poelker will have already received $24,004 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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