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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Wilken paid in $122K to pension fund, could collect $2.68M in retirement

Money 08

Former state university employee Peggy Wilken, who retired in January 2017, saved $121,693 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wilken would collect as much as $2.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Wilken received $56,252 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilken will have already received $173,870 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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