Quantcast

Kane County Reporter

Friday, April 26, 2024

Former state university employee Ohlendorf paid in $40K to pension fund, could collect $594K in retirement

Shutterstock 381111379

Former state university employee Nance Ohlendorf, who retired in December 2016, saved $40,211 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ohlendorf would collect as much as $594,243, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Ohlendorf received $12,490 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ohlendorf will have already received $52,255 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS