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DeKalb Times

Friday, April 18, 2025

Former state university employee Letheby paid in $16K to pension fund, could collect $276K in retirement

Money 02

Former state university employee Paul Letheby, who retired in January 2016, saved $16,378 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Letheby would collect as much as $275,935, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Letheby received $5,799 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Letheby will have already received $17,924 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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