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Chambana Sun

Friday, April 19, 2024

Former state university employee Wansink paid in $75K to pension fund, could collect $1.64M in retirement

Money 07

Former state university employee Brian Wansink, who retired in August 2017, saved $75,115 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wansink would collect as much as $1.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wansink received $34,527 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wansink will have already received $106,720 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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