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DeKalb Times

Monday, November 25, 2024

Former state university employee Killam paid in $89K to pension fund, could collect $1.7M in retirement

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Former state university employee James Killam, who retired in November 2018, saved $89,451 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Killam would collect as much as $1.7 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Killam received $35,736 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Killam will have already received $110,456 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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