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DeKalb Times

Friday, April 18, 2025

Former state university employee Loft paid in $13K to pension fund, could collect $282K in retirement

Money272

Former state university employee John Loft, who retired in January 2016, saved $12,828 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Loft would collect as much as $282,398, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Loft received $5,935 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Loft will have already received $18,344 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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