Quantcast

Macon Reporter

Wednesday, November 6, 2024

Former state university employee Krekel paid in $71K to pension fund, could collect $1.76M in retirement

Shutterstock 225154648

Former state university employee Paul Krekel, who retired in May 2018, saved $71,297 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Krekel would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Krekel received $37,035 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Krekel will have already received $75,181 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS