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DeKalb Times

Sunday, November 17, 2024

Former state university employee Komitas paid in $34K to pension fund, could collect $579K in retirement

Money272

Former state university employee Sofia Komitas, who retired in June 2018, saved $33,573 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Komitas would collect as much as $579,006, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Komitas received $12,170 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Komitas will have already received $37,616 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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