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Sangamon Sun

Wednesday, April 24, 2024

Former state university employee Higgins paid in $39K to pension fund, could collect $936K in retirement

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Former state university employee Donna Higgins, who retired in January 2016, saved $38,690 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Higgins would collect as much as $936,386, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Higgins received $19,682 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Higgins will have already received $39,954 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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