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West Cook News

Monday, December 23, 2024

Former state university employee Bodner paid in $8K to pension fund, could collect $127K in retirement

Money759

Former state university employee Richard Bodner, who retired in June 2016, saved $8,417 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bodner would collect as much as $127,311, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Bodner received $2,676 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bodner will have already received $11,195 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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