Former state university employee Kraus paid in $199K to pension fund, could collect $4.92M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Donna Kraus, who retired in January 2016, saved $199,126 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kraus would collect as much as $4.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kraus received $103,343 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kraus will have already received $209,786 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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