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Sangamon Sun

Friday, May 10, 2024

Former state university employee Walker paid in $35K to pension fund, could collect $501K in retirement

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Former state university employee Linda Walker, who retired in July 2016, saved $34,803 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $500,660, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Walker received $10,523 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Walker will have already received $44,025 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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