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Chambana Sun

Friday, April 26, 2024

Former state university employee Crow paid in $56K to pension fund, could collect $1.34M in retirement

Money041

Former state university employee Brian Crow, who retired in February 2019, saved $56,078 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crow would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Crow received $28,104 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Crow will have already received $57,051 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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