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Sangamon Sun

Thursday, November 14, 2024

Former state university employee Joyner Keene paid in $63K to pension fund, could collect $1.04M in retirement

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Former state university employee Faye Joyner Keene, who retired in January 2019, saved $63,066 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Joyner Keene would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Joyner Keene received $21,840 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Joyner Keene will have already received $67,505 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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