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DeKalb Times

Tuesday, April 29, 2025

Former state university employee Thomas paid in $45K to pension fund, could collect $845K in retirement

Money 03

Former state university employee Benjamin Thomas, who retired in October 2016, saved $45,314 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $844,922, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Thomas received $17,759 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thomas will have already received $54,892 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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