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Chambana Sun

Monday, September 30, 2024

Former state university employee Keagle paid in $95K to pension fund, could collect $1.49M in retirement

Money041

Former state university employee Rodney Keagle, who retired in November 2018, saved $95,020 toward a pension over 40 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Keagle would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Keagle received $31,344 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Keagle will have already received $96,881 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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