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Sangamon Sun

Saturday, May 4, 2024

Former state university employee Hernandez paid in $168K to pension fund, could collect $3.15M in retirement

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Former state university employee Ana Hernandez, who retired in August 2017, saved $168,161 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hernandez would collect as much as $3.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Hernandez received $66,192 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hernandez will have already received $204,593 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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