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Sangamon Sun

Thursday, November 7, 2024

Former state university employee Blaho paid in $569 to pension fund, could collect $185K in retirement

Money759

Former state university employee Rebecca Blaho, who retired in June 2018, saved $569 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Blaho would collect as much as $185,469, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Blaho received $3,898 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Blaho will have already received $3,898 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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