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Chambana Sun

Tuesday, April 8, 2025

Former state university employee Schrumpf paid in $135K to pension fund, could collect $3.23M in retirement

Money 02

Former state university employee Nancy Schrumpf, who retired in January 2016, saved $134,972 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schrumpf would collect as much as $3.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Schrumpf received $67,794 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Schrumpf will have already received $137,622 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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