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Chambana Sun

Thursday, April 25, 2024

Former state university employee Strohbeck paid in $96K to pension fund, could collect $2.16M in retirement

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Former state university employee Carol Strohbeck, who retired in January 2018, saved $96,366 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Strohbeck would collect as much as $2.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Strohbeck received $45,298 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Strohbeck will have already received $140,012 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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