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Carbondale Reporter

Thursday, April 25, 2024

Former state university employee Matrisch paid in $56K to pension fund, could collect $598K in retirement

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Former state university employee Steven Matrisch, who retired in January 2019, saved $56,278 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Matrisch would collect as much as $597,737, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Matrisch received $12,564 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Matrisch will have already received $66,704 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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