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Chambana Sun

Tuesday, November 5, 2024

Former state university employee Devlin paid in $13K to pension fund, could collect $206K in retirement

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Former state university employee Megan Devlin, who retired in April 2016, saved $12,739 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Devlin would collect as much as $206,113, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Devlin received $4,332 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Devlin will have already received $13,390 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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