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Chambana Sun

Monday, September 30, 2024

Former state university employee Fuller paid in $12K to pension fund, could collect $484K in retirement

Money 07

Former state university employee Dorothy Fuller, who retired in November 2018, saved $12,461 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fuller would collect as much as $483,556, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Fuller received $10,164 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Fuller will have already received $20,633 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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