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DeKalb Times

Monday, December 23, 2024

Former state university employee Schuble paid in $53K to pension fund, could collect $2.03M in retirement

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Former state university employee Joy Schuble, who retired in August 2016, saved $53,363 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schuble would collect as much as $2.03 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Schuble received $42,612 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Schuble will have already received $86,502 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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