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Chambana Sun

Saturday, November 23, 2024

Former state university employee Roetzer paid in $18K to pension fund, could collect $681K in retirement

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Former state university employee Kathleen Roetzer, who retired in November 2017, saved $18,194 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Roetzer would collect as much as $681,089, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Roetzer received $14,316 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Roetzer will have already received $29,061 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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