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Chambana Sun

Thursday, October 2, 2025

Former state university employee Barnell paid in $51K to pension fund, could collect $1M in retirement

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Former state university employee Phillip Barnell, who retired in January 2016, saved $51,471 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Barnell would collect as much as $1 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Barnell received $21,030 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Barnell will have already received $65,002 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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