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Sangamon Sun

Tuesday, April 16, 2024

Former state university employee Pool paid in $26K to pension fund, could collect $343K in retirement

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Former state university employee Kimberly Pool, who retired in August 2017, saved $25,598 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pool would collect as much as $343,268, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Pool received $7,215 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Pool will have already received $30,184 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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