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Kane County Reporter

Friday, November 29, 2024

Former state university employee Best paid in $5K to pension fund, could collect $127K in retirement

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Former state university employee Kathryn Best, who retired in March 2018, saved $4,797 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Best would collect as much as $127,311, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Best received $2,676 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Best will have already received $5,432 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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