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Carbondale Reporter

Monday, December 23, 2024

Former state university employee Niebrugge paid in $89K to pension fund, could collect $1.46M in retirement

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Former state university employee Daniel Niebrugge, who retired in July 2017, saved $88,780 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Niebrugge would collect as much as $1.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Niebrugge received $30,618 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Niebrugge will have already received $94,638 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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