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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Groves paid in $283K to pension fund, could collect $8.38M in retirement

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Former state university employee Jay Groves, who retired in May 2017, saved $283,022 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Groves would collect as much as $8.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Groves received $176,140 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Groves will have already received $357,564 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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