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DeKalb Times

Monday, November 25, 2024

Former state university employee Servais paid in $21K to pension fund, could collect $531K in retirement

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Former state university employee Kristine Servais, who retired in January 2017, saved $21,081 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Servais would collect as much as $530,627, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Servais received $11,153 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Servais will have already received $22,641 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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