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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Kern paid in $88K to pension fund, could collect $1.67M in retirement

Money759

Former state university employee Willis Kern, who retired in May 2017, saved $88,265 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kern would collect as much as $1.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kern received $35,059 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kern will have already received $108,364 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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