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DeKalb Times

Friday, May 2, 2025

Former state university employee May paid in $72K to pension fund, could collect $1.13M in retirement

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Former state university employee Allen May, who retired in January 2016, saved $71,616 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, May would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes May received $23,852 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, May will have already received $73,725 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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