Former state university employee Fritsch paid in $4K to pension fund, could collect $73K in retirement

Former state university employee Michael Fritsch, who retired in January 2017, saved $4,471 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fritsch would collect as much as $72,716, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Fritsch received $1,528 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fritsch will have already received $4,723 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.