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Carbondale Reporter

Tuesday, December 24, 2024

Former state university employee Crippen paid in $105K to pension fund, could collect $1.98M in retirement

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Former state university employee William Crippen, who retired in July 2017, saved $105,448 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crippen would collect as much as $1.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Crippen received $41,536 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crippen will have already received $128,383 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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