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DeKalb Times

Friday, November 22, 2024

Former state university employee Reisdorf paid in $10K to pension fund, could collect $243K in retirement

Money759

Former state university employee Patricia Reisdorf, who retired in September 2016, saved $10,369 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Reisdorf would collect as much as $243,342, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Reisdorf received $5,114 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reisdorf will have already received $10,381 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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