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McLean County Times

Wednesday, April 24, 2024

Former state university employee Ronnfeldt paid in $177K to pension fund, could collect $3.61M in retirement

Money 08

Former state university employee Derek Ronnfeldt, who retired in January 2016, saved $177,344 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ronnfeldt would collect as much as $3.61 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Ronnfeldt received $75,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ronnfeldt will have already received $234,242 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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