Former state university employee Reutzel paid in $43K to pension fund, could collect $1.13M in retirement

By Local Labs News Service

Mar 1, 2016

Former state university employee Cindy Reutzel, who retired in February 2016, saved $42,874 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reutzel would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Reutzel received $23,750 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reutzel will have already received $48,213 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 Chicago

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