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Kane County Reporter

Tuesday, April 16, 2024

Former state university employee Brong paid in $12K to pension fund, could collect $168K in retirement

Money 08

Former state university employee Kathleen Brong, who retired in January 2019, saved $12,463 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brong would collect as much as $168,416, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Brong received $3,540 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Brong will have already received $14,809 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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