Former state university employee Mueller paid in $15K to pension fund, could collect $750K in retirement

By Local Labs News Service

Mar 1, 2019

Former state university employee Jeffrey Mueller, who retired in February 2019, saved $15,425 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mueller would collect as much as $750,169, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Mueller received $15,768 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Mueller will have already received $15,768 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Rock Valley College

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