Dupage Policy Journal

Dupage Policy Journal

Tuesday, November 12, 2019

Former state university employee Waldvogel paid in $30K to pension fund, could collect $652K in retirement

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By Local Labs News Service | Sep 1, 2018

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Former state university employee Craig Waldvogel, who retired in August 2018, saved $29,571 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Waldvogel would collect as much as $651,722, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Waldvogel received $13,698 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Waldvogel will have already received $42,339 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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