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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Hopkins paid in $66K to pension fund, could collect $1.64M in retirement

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Former state university employee Lyn Hopkins, who retired in January 2017, saved $66,097 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hopkins would collect as much as $1.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Hopkins received $34,371 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Hopkins will have already received $69,773 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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