Former state university employee Wilson paid in $205K to pension fund, could collect $2.11M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Rolf Wilson, who retired in January 2016, saved $204,921 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilson would collect as much as $2.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Wilson received $44,387 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Wilson will have already received $235,660 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

University of Illinois at Urbana Champaign

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