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Chambana Sun

Monday, November 25, 2024

Former state university employee Odintsov paid in $130K to pension fund, could collect $2.19M in retirement

Money 08

Former state university employee Boris Odintsov, who retired in June 2017, saved $130,447 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Odintsov would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Odintsov received $46,134 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Odintsov will have already received $142,596 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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