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DeKalb Times

Monday, April 29, 2024

Former state university employee Sill paid in $9K to pension fund, could collect $124K in retirement

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Former state university employee Kelly Sill, who retired in May 2016, saved $8,731 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sill would collect as much as $124,051, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Sill received $2,607 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sill will have already received $10,907 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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