West Central Reporter

Former state university employee Kathleen Neumann, who retired in March 2019, saved $362,938 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Neumann would collect as much as $5.14 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Neumann received $108,000 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Neumann will have already received $451,831 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.