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Kane County Reporter

Thursday, November 28, 2024

Former state university employee Anthony paid in $64K to pension fund, could collect $2.71M in retirement

Money 08

Former state university employee Sandra Anthony, who retired in September 2017, saved $63,511 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Anthony would collect as much as $2.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Anthony received $56,910 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Anthony will have already received $115,527 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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