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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Van Der Laan paid in $136K to pension fund, could collect $3.17M in retirement

Money 05

Former state university employee James Van Der Laan, who retired in June 2018, saved $135,571 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Van Der Laan would collect as much as $3.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Van Der Laan received $66,633 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Van Der Laan will have already received $205,956 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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