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Macon Reporter

Friday, May 17, 2024

Former state university employee Knutson paid in $864 to pension fund, could collect $100K in retirement

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Former state university employee Brian Knutson, who retired in July 2016, saved $864 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Knutson would collect as much as $99,822, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Knutson received $2,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Knutson will have already received $2,098 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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