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Sangamon Sun

Friday, April 26, 2024

Former state university employee Sidell paid in $107K to pension fund, could collect $1.91M in retirement

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Former state university employee Charles Sidell, who retired in January 2016, saved $106,542 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sidell would collect as much as $1.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sidell received $40,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sidell will have already received $123,939 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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