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Chambana Sun

Wednesday, April 17, 2024

Former state university employee Medina paid in $26K to pension fund, could collect $445K in retirement

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Former state university employee Wendie Medina, who retired in January 2019, saved $26,094 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Medina would collect as much as $444,734, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Medina received $9,348 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Medina will have already received $28,893 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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