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Sangamon Sun

Friday, April 26, 2024

Former state university employee Buhr paid in $129K to pension fund, could collect $2.98M in retirement

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Former state university employee Gloria Buhr, who retired in June 2018, saved $128,950 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Buhr would collect as much as $2.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Buhr received $62,707 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buhr will have already received $193,821 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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