Former state university employee Denzer paid in $133K to pension fund, could collect $3.54M in retirement

By Rock Island Today Reports

Feb 1, 2017

Former state university employee Lee Denzer, who retired in January 2017, saved $132,761 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Denzer would collect as much as $3.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Denzer received $74,466 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Denzer will have already received $151,166 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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