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Sangamon Sun

Saturday, April 20, 2024

Former state university employee Perkins paid in $13K to pension fund, could collect $584K in retirement

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Former state university employee Lynda Perkins, who retired in February 2017, saved $12,976 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Perkins would collect as much as $583,607, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Perkins received $12,267 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Perkins will have already received $24,902 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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