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Sangamon Sun

Friday, April 26, 2024

Former state university employee Bohnsack paid in $9K to pension fund, could collect $134K in retirement

Money 05

Former state university employee Julie Bohnsack, who retired in June 2016, saved $8,955 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bohnsack would collect as much as $133,705, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bohnsack received $2,810 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bohnsack will have already received $11,755 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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