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Sangamon Sun

Saturday, November 23, 2024

Former state university employee Das paid in $138K to pension fund, could collect $1.54M in retirement

Money041

Former state university employee Tirthanath Das, who retired in September 2016, saved $138,340 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Das would collect as much as $1.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Das received $32,290 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Das will have already received $171,435 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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