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Sangamon Sun

Monday, May 20, 2024

Former state university employee Edwards paid in $6K to pension fund, could collect $188K in retirement

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Former state university employee Denise Edwards, who retired in January 2016, saved $6,041 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Edwards would collect as much as $187,833, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Edwards received $3,948 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Edwards will have already received $8,014 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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