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DeKalb Times

Wednesday, May 14, 2025

Former state university employee Olle paid in $41K to pension fund, could collect $520K in retirement

Money 06

Former state university employee Robert Olle, who retired in June 2017, saved $41,448 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Olle would collect as much as $520,208, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Olle received $10,934 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Olle will have already received $45,744 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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