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Chambana Sun

Sunday, November 24, 2024

Former state university employee Trickey paid in $25K to pension fund, could collect $495K in retirement

Money 04

Former state university employee Dorothy Trickey, who retired in April 2018, saved $24,951 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Trickey would collect as much as $494,791, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Trickey received $10,400 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Trickey will have already received $32,145 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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