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Chambana Sun

Friday, April 26, 2024

Former state university employee Oltheten paid in $156K to pension fund, could collect $2.73M in retirement

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Former state university employee Elisabeth Oltheten, who retired in June 2018, saved $156,082 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Oltheten would collect as much as $2.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Oltheten received $57,295 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Oltheten will have already received $177,093 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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