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Carbondale Reporter

Tuesday, December 24, 2024

Former state university employee Rudolph paid in $37K to pension fund, could collect $517K in retirement

Money272

Former state university employee Diane Rudolph, who retired in June 2016, saved $37,245 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rudolph would collect as much as $517,456, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Rudolph received $10,876 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rudolph will have already received $45,500 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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