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South Cook News

Tuesday, October 8, 2024

Former state university employee Rogge paid in $71K to pension fund, could collect $1.85M in retirement

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Former state university employee Maureen Rogge, who retired in July 2017, saved $71,062 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rogge would collect as much as $1.85 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Rogge received $38,850 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rogge will have already received $78,866 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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