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Metro East Sun

Monday, November 4, 2024

Former state university employee Kiger paid in $18K to pension fund, could collect $274K in retirement

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Former state university employee Rhonda Kiger, who retired in January 2019, saved $17,832 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kiger would collect as much as $274,034, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Kiger received $5,760 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kiger will have already received $24,098 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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