Dupage Policy Journal

Dupage Policy Journal

Monday, February 24, 2020

Former state university employee Logeman paid in $1K to pension fund, could collect $65K in retirement

Schools

By Local Labs News Service | Oct 1, 2016

Money 01

Former state university employee Ronald Logeman, who retired in September 2016, saved $1,473 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Logeman would collect as much as $64,968, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Logeman received $1,365 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Logeman will have already received $2,771 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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