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Chambana Sun

Friday, April 26, 2024

Former state university employee Slowikowski paid in $86K to pension fund, could collect $1.74M in retirement

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Former state university employee James Slowikowski, who retired in May 2016, saved $85,749 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Slowikowski would collect as much as $1.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Slowikowski received $36,601 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Slowikowski will have already received $113,130 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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