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Chambana Sun

Monday, April 28, 2025

Former state university employee Kerr paid in $102K to pension fund, could collect $1.73M in retirement

Money 06

Former state university employee Kathryn Kerr, who retired in September 2016, saved $101,998 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kerr would collect as much as $1.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kerr received $36,459 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kerr will have already received $112,692 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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