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Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Koll paid in $129K to pension fund, could collect $2.89M in retirement

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Former state university employee Nancy Koll, who retired in May 2018, saved $128,683 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Koll would collect as much as $2.89 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Koll received $60,849 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koll will have already received $188,077 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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