Chicago City Wire

Chicago City Wire

Wednesday, January 22, 2020

Former state university employee Ronalter paid in $13K to pension fund, could collect $941K in retirement


By Local Labs News Service | Aug 1, 2017

Money 04

Former state university employee Michael Ronalter, who retired in July 2017, saved $13,002 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ronalter would collect as much as $941,199, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ronalter received $19,783 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Ronalter will have already received $19,783 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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