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Saturday, April 12, 2025

Former state university employee Clark paid in $87K to pension fund, could collect $2.1M in retirement

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Former state university employee R. Clark, who retired in January 2016, saved $86,601 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Clark would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Clark received $44,115 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Clark will have already received $89,553 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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