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DeKalb Times

Monday, May 5, 2025

Former state university employee Kauffman paid in $6K to pension fund, could collect $295K in retirement

Money759

Former state university employee Lorayne Kauffman, who retired in July 2016, saved $6,477 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kauffman would collect as much as $295,020, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Kauffman received $6,201 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kauffman will have already received $12,588 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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