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Chambana Sun

Monday, November 25, 2024

Former state university employee Eberlin paid in $4K to pension fund, could collect $53K in retirement

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Former state university employee Linda Eberlin, who retired in June 2016, saved $3,708 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eberlin would collect as much as $53,465, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Eberlin received $1,123 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Eberlin will have already received $4,700 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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