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Sangamon Sun

Tuesday, November 5, 2024

Former state university employee Small paid in $19K to pension fund, could collect $215K in retirement

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Former state university employee Lisa Small, who retired in June 2017, saved $18,933 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Small would collect as much as $215,373, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Small received $4,527 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Small will have already received $18,940 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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