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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Brunner paid in $133K to pension fund, could collect $3.27M in retirement

Money 07

Former state university employee Edward Brunner, who retired in June 2017, saved $133,121 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brunner would collect as much as $3.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Brunner received $68,646 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brunner will have already received $139,351 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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