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Carbondale Reporter

Thursday, April 18, 2024

Former state university employee Bruce paid in $9K to pension fund, could collect $328K in retirement

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Former state university employee Ginger Bruce, who retired in June 2016, saved $9,009 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bruce would collect as much as $327,522, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Bruce received $6,884 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bruce will have already received $13,975 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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