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Sangamon Sun

Monday, May 12, 2025

Former state university employee Elzinga paid in $5K to pension fund, could collect $103K in retirement

Money 05

Former state university employee William Elzinga, who retired in June 2018, saved $5,149 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Elzinga would collect as much as $102,762, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Elzinga received $2,160 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Elzinga will have already received $6,677 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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