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Chambana Sun

Monday, November 25, 2024

Former state university employee Mohrman paid in $87K to pension fund, could collect $1.38M in retirement

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Former state university employee Cynthia Mohrman, who retired in June 2017, saved $86,635 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mohrman would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Mohrman received $29,068 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mohrman will have already received $89,846 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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