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Sangamon Sun

Friday, April 18, 2025

Former state university employee Jones paid in $44K to pension fund, could collect $948K in retirement

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Former state university employee Sylvester Jones, who retired in June 2017, saved $44,412 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jones would collect as much as $948,067, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Jones received $19,927 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jones will have already received $61,593 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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