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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Boyd paid in $27K to pension fund, could collect $397K in retirement

Money 05

Former state university employee Stephanie Boyd, who retired in August 2017, saved $27,360 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Boyd would collect as much as $397,172, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Boyd received $8,348 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Boyd will have already received $34,924 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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