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Sangamon Sun

Wednesday, November 6, 2024

Former state university employee Burlette paid in $14K to pension fund, could collect $632K in retirement

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Former state university employee Kathleen Burlette, who retired in March 2016, saved $14,019 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Burlette would collect as much as $631,757, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Burlette received $13,279 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Burlette will have already received $26,956 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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