Quantcast

Chicago City Wire

Thursday, April 25, 2024

Former state university employee Rohr paid in $29K to pension fund, could collect $530K in retirement

Money 03

Former state university employee Walter Rohr, who retired in October 2017, saved $28,680 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rohr would collect as much as $530,262, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rohr received $11,145 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rohr will have already received $34,447 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS