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DeKalb Times

Thursday, October 2, 2025

Former state university employee Ganshirt paid in $58K to pension fund, could collect $1.42M in retirement

Money 05

Former state university employee Joanne Ganshirt, who retired in January 2016, saved $57,561 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ganshirt would collect as much as $1.42 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Ganshirt received $29,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ganshirt will have already received $60,462 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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