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Chambana Sun

Monday, April 28, 2025

Former state university employee North paid in $31K to pension fund, could collect $429K in retirement

Money272

Former state university employee John North, who retired in July 2016, saved $31,078 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, North would collect as much as $429,292, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes North received $9,023 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, North will have already received $37,750 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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