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Chambana Sun

Thursday, April 18, 2024

Former state university employee Dalzell paid in $124K to pension fund, could collect $2.16M in retirement

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Former state university employee Jacqueline Dalzell, who retired in January 2018, saved $124,039 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dalzell would collect as much as $2.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Dalzell received $45,361 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dalzell will have already received $140,207 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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