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Kane County Reporter

Sunday, November 24, 2024

Former state university employee Dawson paid in $224K to pension fund, could collect $4.37M in retirement

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Former state university employee Paul Dawson, who retired in January 2017, saved $223,707 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dawson would collect as much as $4.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Dawson received $91,907 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dawson will have already received $284,075 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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