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Kane County Reporter

Monday, November 25, 2024

Former state university employee Goodwill paid in $10K to pension fund, could collect $158K in retirement

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Former state university employee Mary Goodwill, who retired in January 2017, saved $10,315 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Goodwill would collect as much as $157,672, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Goodwill received $3,314 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Goodwill will have already received $13,862 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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