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DeKalb Times

Monday, November 18, 2024

Former state university employee Cosky paid in $31K to pension fund, could collect $1.28M in retirement

Money 06

Former state university employee Alicia Cosky, who retired in March 2018, saved $31,313 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cosky would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Cosky received $26,904 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Cosky will have already received $54,615 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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