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DeKalb Times

Monday, December 23, 2024

Former state university employee Schroeder paid in $27K to pension fund, could collect $434K in retirement

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Former state university employee Carol Schroeder, who retired in September 2016, saved $27,031 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schroeder would collect as much as $434,481, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Schroeder received $9,132 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schroeder will have already received $28,226 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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