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Chambana Sun

Friday, April 18, 2025

Former state university employee Stalvey paid in $86K to pension fund, could collect $1.52M in retirement

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Former state university employee Keith Stalvey, who retired in January 2019, saved $85,517 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stalvey would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Stalvey received $31,896 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stalvey will have already received $98,588 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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