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Sangamon Sun

Tuesday, November 5, 2024

Former state university employee Massie paid in $145K to pension fund, could collect $3.18M in retirement

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Former state university employee John Massie, who retired in June 2017, saved $144,536 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Massie would collect as much as $3.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Massie received $66,804 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Massie will have already received $206,484 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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