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Carbondale Reporter

Tuesday, December 24, 2024

Former state university employee Hart paid in $122K to pension fund, could collect $2.1M in retirement

Money 01

Former state university employee Leila Hart, who retired in June 2016, saved $121,975 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hart would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Hart received $44,151 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hart will have already received $136,467 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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