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Kane County Reporter

Thursday, April 25, 2024

Former state university employee Lin paid in $14K to pension fund, could collect $209K in retirement

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Former state university employee Der Long Lin, who retired in January 2016, saved $14,398 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lin would collect as much as $209,048, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Lin received $4,394 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lin will have already received $18,384 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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