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Sangamon Sun

Thursday, November 14, 2024

Former state university employee Ragsdale paid in $7K to pension fund, could collect $316K in retirement

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Former state university employee Tina Ragsdale, who retired in May 2018, saved $7,435 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ragsdale would collect as much as $315,915, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ragsdale received $6,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ragsdale will have already received $13,479 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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