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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Wiant paid in $14K to pension fund, could collect $305K in retirement

Money 07

Former state university employee Michael Wiant, who retired in June 2018, saved $13,660 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wiant would collect as much as $304,868, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wiant received $6,408 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wiant will have already received $19,806 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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