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Kane County Reporter

Thursday, April 18, 2024

Former state university employee Baier paid in $47K to pension fund, could collect $582K in retirement

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Former state university employee Susan Baier, who retired in February 2019, saved $46,776 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Baier would collect as much as $581,752, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Baier received $12,228 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Baier will have already received $51,158 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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