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Sangamon Sun

Wednesday, June 4, 2025

Former state university employee Peterson paid in $3K to pension fund, could collect $427K in retirement

Money 06

Former state university employee Mary Peterson, who retired in June 2018, saved $2,941 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Peterson would collect as much as $427,436, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Peterson received $8,984 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Peterson will have already received $8,984 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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