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DeKalb Times

Friday, November 22, 2024

Former state university employee Papapostolou paid in $7K to pension fund, could collect $117K in retirement

Money 01

Former state university employee Pamela Papapostolou, who retired in January 2018, saved $6,883 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Papapostolou would collect as much as $117,480, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Papapostolou received $2,469 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Papapostolou will have already received $7,631 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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