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Dupage Policy Journal

Saturday, April 20, 2024

Former state university employee Mueller paid in $97K to pension fund, could collect $1.92M in retirement

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Former state university employee Madonna Mueller, who retired in October 2017, saved $97,170 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mueller would collect as much as $1.92 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Mueller received $40,255 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mueller will have already received $124,425 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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