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Chambana Sun

Tuesday, April 29, 2025

Former state university employee Parker paid in $25K to pension fund, could collect $490K in retirement

Money 05

Former state university employee Maureen Parker, who retired in May 2017, saved $24,889 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Parker would collect as much as $490,121, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Parker received $10,302 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parker will have already received $31,842 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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