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McLean County Times

Wednesday, April 24, 2024

Former state university employee Neisler paid in $100K to pension fund, could collect $2.37M in retirement

Money 08

Former state university employee Joe Neisler, who retired in January 2016, saved $100,305 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Neisler would collect as much as $2.37 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Neisler received $49,790 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Neisler will have already received $101,074 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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