Chicago City Wire

Chicago City Wire

Wednesday, November 13, 2019

Former state university employee Funkhouser paid in $58K to pension fund, could collect $1.39M in retirement

Schools

By Local Labs News Service | Sep 1, 2017

Money 01

Former state university employee Anthony Funkhouser, who retired in August 2017, saved $58,427 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Funkhouser would collect as much as $1.39 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Funkhouser received $29,261 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Funkhouser will have already received $59,400 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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