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Chambana Sun

Thursday, April 17, 2025

Former state university employee Kelley paid in $70K to pension fund, could collect $1.45M in retirement

Money272

Former state university employee David Kelley, who retired in August 2017, saved $69,888 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kelley would collect as much as $1.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kelley received $30,421 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kelley will have already received $94,029 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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