DeKalb Times

DeKalb Times

Tuesday, October 15, 2019

Former state university employee Delano paid in $92K to pension fund, could collect $1.69M in retirement

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By Local Labs News Service | May 1, 2017


Former state university employee Margaret Delano, who retired in April 2017, saved $91,797 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Delano would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Delano received $35,484 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Delano will have already received $109,678 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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