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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Powers paid in $4K to pension fund, could collect $125K in retirement

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Former state university employee Paul Powers, who retired in June 2017, saved $4,103 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Powers would collect as much as $124,674, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Powers received $2,620 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Powers will have already received $5,319 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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