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Rockford Sun

Saturday, June 14, 2025

Former state university employee Schleter paid in $12K to pension fund, could collect $250K in retirement

Money 07

Former state university employee Everett Schleter, who retired in January 2016, saved $12,204 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schleter would collect as much as $249,913, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Schleter received $5,253 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schleter will have already received $16,237 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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