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DeKalb Times

Friday, April 26, 2024

Former state university employee Myers paid in $18K to pension fund, could collect $260K in retirement

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Former state university employee Susan Myers, who retired in April 2017, saved $18,269 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Myers would collect as much as $259,784, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Myers received $5,460 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Myers will have already received $22,844 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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