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Sangamon Sun

Monday, May 12, 2025

Former state university employee Awalt paid in $16K to pension fund, could collect $305K in retirement

Money272

Former state university employee Patricia Awalt, who retired in June 2018, saved $16,497 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Awalt would collect as much as $305,017, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Awalt received $6,411 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Awalt will have already received $19,815 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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