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McLean County Times

Saturday, November 16, 2024

Former state university employee Leuchtenberg paid in $81K to pension fund, could collect $1.87M in retirement

Money 02

Former state university employee Janice Leuchtenberg, who retired in July 2018, saved $81,084 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Leuchtenberg would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Leuchtenberg received $39,221 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Leuchtenberg will have already received $121,229 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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