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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Sinha paid in $134K to pension fund, could collect $3.03M in retirement

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Former state university employee Ratna Sinha, who retired in June 2017, saved $133,866 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sinha would collect as much as $3.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Sinha received $63,725 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sinha will have already received $196,968 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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