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Chambana Sun

Monday, November 25, 2024

Former state university employee Bahnke paid in $207K to pension fund, could collect $3.93M in retirement

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Former state university employee Rebecca Bahnke, who retired in June 2016, saved $206,902 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bahnke would collect as much as $3.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Bahnke received $82,693 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bahnke will have already received $255,596 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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