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Former state university employee Runck paid in $102K to pension fund, could collect $1.87M in retirement

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By Local Labs News Service | Feb 1, 2016

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Former state university employee Tracy Runck, who retired in January 2016, saved $102,322 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Runck would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Runck received $39,324 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Runck will have already received $121,547 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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