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Chambana Sun

Saturday, November 23, 2024

Former state university employee Debrock paid in $114K to pension fund, could collect $3.49M in retirement

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Former state university employee Cynthia Debrock, who retired in May 2016, saved $114,117 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Debrock would collect as much as $3.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Debrock received $73,416 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Debrock will have already received $149,034 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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