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Rockford Sun

Saturday, July 19, 2025

Former state university employee Knodle paid in $95K to pension fund, could collect $1.51M in retirement

Money 03

Former state university employee Russell Knodle, who retired in September 2017, saved $95,446 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Knodle would collect as much as $1.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Knodle received $31,636 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knodle will have already received $97,784 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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