Sangamon Sun

Sangamon Sun

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Former state university employee Lesemann paid in $48K to pension fund, could collect $759K in retirement

Schools

By Local Labs News Service | Aug 1, 2016


Former state university employee Rita Lesemann, who retired in July 2016, saved $47,692 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lesemann would collect as much as $758,983, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lesemann received $15,953 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lesemann will have already received $49,310 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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