Former state university employee Kiper paid in $73K to pension fund, could collect $2.5M in retirement

By Local Labs News Service

Dec 1, 2016

Former state university employee Tommy Kiper, who retired in November 2016, saved $72,522 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kiper would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Kiper received $52,476 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kiper will have already received $106,526 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Illinois State University

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