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South Central Reporter

Tuesday, November 12, 2024

Former state university employee Sensel paid in $72K to pension fund, could collect $1.3M in retirement

Money272

Former state university employee Don Sensel, who retired in June 2016, saved $72,061 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sensel would collect as much as $1.3 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Sensel received $27,423 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sensel will have already received $84,762 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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