Kane County Reporter

Kane County Reporter

Wednesday, December 11, 2019

Former state university employee Kirchner paid in $9K to pension fund, could collect $43K in retirement


By Local Labs News Service | Jan 1, 2019

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Former state university employee Cynthia Kirchner, who retired in December 2018, saved $8,524 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kirchner would collect as much as $42,817, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Kirchner received $900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 9 years of retirement, Kirchner will have already received $9,146 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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