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Chambana Sun

Saturday, November 23, 2024

Former state university employee Walker paid in $73K to pension fund, could collect $1.96M in retirement

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Former state university employee Darlene Walker, who retired in November 2017, saved $73,014 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Walker would collect as much as $1.96 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Walker received $41,109 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Walker will have already received $83,451 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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