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Chambana Sun

Tuesday, April 23, 2024

Former state university employee Noble paid in $10K to pension fund, could collect $680K in retirement

Money 01

Former state university employee Bonnie Noble, who retired in May 2016, saved $9,686 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Noble would collect as much as $680,444, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Noble received $14,302 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Noble will have already received $14,302 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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