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DeKalb Times

Sunday, November 17, 2024

Former state university employee Desjarlais paid in $84K to pension fund, could collect $1.43M in retirement

Money 06

Former state university employee John Desjarlais, who retired in June 2018, saved $84,398 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Desjarlais would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Desjarlais received $30,132 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Desjarlais will have already received $93,135 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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