Quantcast

Metro East Sun

Friday, November 22, 2024

Former state university employee Kuhl paid in $64K to pension fund, could collect $2.77M in retirement

Shutterstock 262120544

Former state university employee Christopher Kuhl, who retired in January 2016, saved $64,148 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kuhl would collect as much as $2.77 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Kuhl received $58,326 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kuhl will have already received $118,402 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS