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Chambana Sun

Monday, August 4, 2025

Former state university employee Grant paid in $7K to pension fund, could collect $66K in retirement

Money 08

Former state university employee Marge Grant, who retired in January 2019, saved $7,174 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Grant would collect as much as $65,654, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Grant received $1,380 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Grant will have already received $7,326 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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