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DeKalb Times

Sunday, November 17, 2024

Former state university employee Griswold paid in $14K to pension fund, could collect $261K in retirement

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Former state university employee Deborah Griswold, who retired in June 2018, saved $14,057 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Griswold would collect as much as $261,263, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Griswold received $5,491 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Griswold will have already received $16,973 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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