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DeKalb Times

Sunday, November 24, 2024

Former state university employee Colomb paid in $27K to pension fund, could collect $534K in retirement

Money 06

Former state university employee Ana Colomb, who retired in July 2017, saved $26,673 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Colomb would collect as much as $533,967, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Colomb received $11,223 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Colomb will have already received $34,690 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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