Former state university employee Munsterman paid in $69K to pension fund, could collect $1.17M in retirement

By Local Labs News Service

Apr 1, 2018

Former state university employee Roland Munsterman, who retired in March 2018, saved $68,911 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Munsterman would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Munsterman received $24,504 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Munsterman will have already received $75,739 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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