Chicago City Wire

Chicago City Wire

Tuesday, November 19, 2019

Former state university employee Augspurger paid in $241K to pension fund, could collect $5.04M in retirement

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By Local Labs News Service | Mar 1, 2019

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Former state university employee Carol Augspurger, who retired in February 2019, saved $240,890 toward a pension over 40 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Augspurger would collect as much as $5.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Augspurger received $105,900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Augspurger will have already received $327,326 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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