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North Egypt News

Wednesday, January 22, 2020

Former state university employee Caplinger paid in $34K to pension fund, could collect $805K in retirement


By Local Labs News Service | May 1, 2018

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Former state university employee Wayne Caplinger, who retired in April 2018, saved $34,331 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Caplinger would collect as much as $805,369, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Caplinger received $16,928 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Caplinger will have already received $34,364 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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