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Chambana Sun

Monday, November 25, 2024

Former state university employee Gottlieb paid in $167K to pension fund, could collect $3.79M in retirement

Money 04

Former state university employee Alma Gottlieb, who retired in June 2016, saved $166,557 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gottlieb would collect as much as $3.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Gottlieb received $79,578 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gottlieb will have already received $245,967 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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