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McLean County Times

Sunday, November 24, 2024

Former state university employee Fritzen paid in $141K to pension fund, could collect $3.34M in retirement

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Former state university employee Bodo Fritzen, who retired in June 2016, saved $141,145 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fritzen would collect as much as $3.34 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Fritzen received $70,214 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Fritzen will have already received $142,534 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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