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Chambana Sun

Monday, August 4, 2025

Former state university employee Heinrich paid in $48K to pension fund, could collect $2.32M in retirement

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Former state university employee Fred Heinrich, who retired in February 2019, saved $48,399 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Heinrich would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Heinrich received $48,672 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Heinrich will have already received $48,672 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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