Quantcast

Chambana Sun

Tuesday, April 29, 2025

Former state university employee Rich paid in $205K to pension fund, could collect $6.45M in retirement

Shutterstock 225154648

Former state university employee Daniel Rich, who retired in January 2017, saved $205,094 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rich would collect as much as $6.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Rich received $135,484 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rich will have already received $275,033 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS