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McLean County Times

Saturday, November 16, 2024

Former state university employee Claus paid in $106K to pension fund, could collect $2.47M in retirement

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Former state university employee Janet Claus, who retired in July 2018, saved $106,449 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Claus would collect as much as $2.47 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Claus received $51,959 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Claus will have already received $160,601 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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