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Chambana Sun

Saturday, August 2, 2025

Former state university employee Deakin paid in $82K to pension fund, could collect $1.24M in retirement

Money836

Former state university employee Charles Deakin, who retired in May 2018, saved $81,585 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Deakin would collect as much as $1.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Deakin received $26,144 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Deakin will have already received $109,376 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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