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Sangamon Sun

Friday, April 18, 2025

Former state university employee Goy paid in $7K to pension fund, could collect $149K in retirement

Money 01

Former state university employee Michael Goy, who retired in January 2016, saved $6,768 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Goy would collect as much as $149,314, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Goy received $3,138 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Goy will have already received $9,699 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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