Former state university employee Ingold paid in $140K to pension fund, could collect $2.74M in retirement

By Rock Island Today Reports

Jul 1, 2018

Former state university employee Fred Ingold, who retired in June 2018, saved $139,717 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ingold would collect as much as $2.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Ingold received $57,620 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ingold will have already received $178,098 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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