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Chambana Sun

Sunday, November 24, 2024

Former state university employee Christensen paid in $3K to pension fund, could collect $97K in retirement

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Former state university employee Louella Christensen, who retired in June 2017, saved $2,831 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Christensen would collect as much as $96,728, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Christensen received $2,033 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Christensen will have already received $4,127 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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