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DeKalb Times

Saturday, November 16, 2024

Former state university employee Wilson paid in $71K to pension fund, could collect $980K in retirement

Money 03

Former state university employee Ann Wilson, who retired in July 2018, saved $71,035 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilson would collect as much as $980,312, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Wilson received $20,605 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wilson will have already received $86,204 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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