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DeKalb Times

Monday, November 25, 2024

Former state university employee Makosh paid in $48K to pension fund, could collect $1.15M in retirement

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Former state university employee Christine Makosh, who retired in January 2017, saved $48,220 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Makosh would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Makosh received $24,252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Makosh will have already received $49,232 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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