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DeKalb Times

Wednesday, April 24, 2024

Former state university employee Levin paid in $390K to pension fund, could collect $4.36M in retirement

Money041

Former state university employee Amy Levin, who retired in January 2016, saved $390,353 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Levin would collect as much as $4.36 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Levin received $91,742 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Levin will have already received $487,070 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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