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Chambana Sun

Sunday, November 24, 2024

Former state university employee Lesht paid in $226K to pension fund, could collect $4.18M in retirement

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Former state university employee Faye Lesht, who retired in June 2017, saved $226,416 toward a pension over 36 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lesht would collect as much as $4.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Lesht received $87,765 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lesht will have already received $271,273 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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