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Chambana Sun

Sunday, July 6, 2025

Former state university employee Young paid in $102K to pension fund, could collect $2.26M in retirement

Money 02

Former state university employee Timothy Young, who retired in May 2017, saved $101,758 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Young would collect as much as $2.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Young received $47,488 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Young will have already received $146,781 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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