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McLean County Times

Tuesday, November 26, 2024

Former state university employee Taufer paid in $125K to pension fund, could collect $1.58M in retirement

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Former state university employee Ted Taufer, who retired in March 2019, saved $125,014 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Taufer would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Taufer received $33,192 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Taufer will have already received $138,864 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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