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McLean County Times

Friday, April 26, 2024

Former state university employee Vollstedt paid in $69K to pension fund, could collect $1.15M in retirement

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Former state university employee Kathy Vollstedt, who retired in June 2018, saved $68,654 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vollstedt would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Vollstedt received $24,159 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vollstedt will have already received $74,674 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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