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Chambana Sun

Monday, November 25, 2024

Former state university employee Kuehl paid in $91K to pension fund, could collect $2.08M in retirement

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Former state university employee Sharon Kuehl, who retired in October 2018, saved $90,883 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kuehl would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kuehl received $43,670 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kuehl will have already received $134,979 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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