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McLean County Times

Monday, December 23, 2024

Former state university employee Wollrab paid in $17K to pension fund, could collect $428K in retirement

Money 08

Former state university employee Laurie Wollrab, who retired in April 2017, saved $16,994 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wollrab would collect as much as $428,001, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Wollrab received $8,996 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wollrab will have already received $18,262 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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