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Kane County Reporter

Wednesday, April 23, 2025

Former state university employee Storey paid in $40K to pension fund, could collect $914K in retirement

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Former state university employee Charles Storey, who retired in January 2016, saved $40,498 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Storey would collect as much as $913,807, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Storey received $19,207 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Storey will have already received $59,366 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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