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Sangamon Sun

Saturday, April 20, 2024

Former state university employee Bratzel paid in $39K to pension fund, could collect $634K in retirement

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Former state university employee Mary Bratzel, who retired in June 2018, saved $38,531 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bratzel would collect as much as $633,556, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bratzel received $13,316 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bratzel will have already received $41,157 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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