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Chambana Sun

Monday, April 28, 2025

Former state university employee Owens paid in $65K to pension fund, could collect $881K in retirement

Money 07

Former state university employee Susan Owens, who retired in June 2016, saved $65,259 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Owens would collect as much as $880,649, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Owens received $18,510 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Owens will have already received $77,438 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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