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Chambana Sun

Sunday, November 24, 2024

Former state university employee Vandelinder paid in $7K to pension fund, could collect $144K in retirement

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Former state university employee Dinah Vandelinder, who retired in June 2017, saved $6,540 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vandelinder would collect as much as $143,936, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Vandelinder received $3,025 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vandelinder will have already received $9,350 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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