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McLean County Times

Friday, November 15, 2024

Former state university employee Augspurger paid in $1K to pension fund, could collect $196K in retirement

Money 02

Former state university employee Mary Augspurger, who retired in January 2018, saved $1,271 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Augspurger would collect as much as $195,894, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Augspurger received $4,117 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Augspurger will have already received $4,117 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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