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Chambana Sun

Monday, April 28, 2025

Former state university employee Kelly paid in $5K to pension fund, could collect $87K in retirement

Money759

Former state university employee Martha Kelly, who retired in June 2016, saved $5,033 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kelly would collect as much as $86,709, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kelly received $1,822 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kelly will have already received $5,632 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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