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Chicago City Wire

Friday, April 26, 2024

Former state university employee Anderegg paid in $19K to pension fund, could collect $632K in retirement

Money 03

Former state university employee Connie Anderegg, who retired in June 2017, saved $19,041 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Anderegg would collect as much as $632,454, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Anderegg received $13,293 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Anderegg will have already received $26,985 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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