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Sangamon Sun

Monday, May 19, 2025

Former state university employee Chestnut paid in $5K to pension fund, could collect $68K in retirement

Money 05

Former state university employee Marina Chestnut, who retired in June 2016, saved $5,180 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Chestnut would collect as much as $68,006, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Chestnut received $1,429 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Chestnut will have already received $5,978 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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