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DeKalb Times

Saturday, November 23, 2024

Former state university employee Corson paid in $6K to pension fund, could collect $546K in retirement

Money 01

Former state university employee Christine Corson, who retired in June 2016, saved $5,616 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Corson would collect as much as $545,710, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Corson received $11,470 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Corson will have already received $11,470 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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