Chicago City Wire

Chicago City Wire

Thursday, November 21, 2019

Former state university employee Mangelsdorf paid in $164K to pension fund, could collect $3.84M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money 01

Former state university employee Sarah Mangelsdorf, who retired in January 2016, saved $164,042 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mangelsdorf would collect as much as $3.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mangelsdorf received $80,667 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mangelsdorf will have already received $249,334 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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