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Chambana Sun

Saturday, November 23, 2024

Former state university employee Curtis paid in $130K to pension fund, could collect $3.55M in retirement

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Former state university employee Laura Curtis, who retired in May 2016, saved $130,264 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Curtis would collect as much as $3.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Curtis received $74,544 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Curtis will have already received $151,324 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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