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Chambana Sun

Monday, April 28, 2025

Former state university employee Morgan paid in $46K to pension fund, could collect $851K in retirement

Money 05

Former state university employee Connie Morgan, who retired in May 2016, saved $46,119 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Morgan would collect as much as $851,179, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Morgan received $17,891 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Morgan will have already received $55,300 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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