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Carbondale Reporter

Wednesday, November 27, 2024

Former state university employee Diuguid paid in $49K to pension fund, could collect $1.6M in retirement

Money 07

Former state university employee William Diuguid, who retired in August 2018, saved $49,488 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Diuguid would collect as much as $1.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Diuguid received $33,660 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Diuguid will have already received $68,330 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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