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West Central Reporter

Saturday, November 23, 2024

Former state university employee Koller paid in $53K to pension fund, could collect $1.02M in retirement

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Former state university employee Marcy Koller, who retired in May 2016, saved $52,510 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Koller would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Koller received $21,353 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koller will have already received $66,001 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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