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DeKalb Times

Monday, December 23, 2024

Former state university employee Edwards paid in $27K to pension fund, could collect $885K in retirement

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Former state university employee Diane Edwards, who retired in October 2017, saved $27,344 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Edwards would collect as much as $885,348, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Edwards received $18,609 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Edwards will have already received $37,776 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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