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Carbondale Reporter

Tuesday, November 5, 2024

Former state university employee Henson paid in $18K to pension fund, could collect $903K in retirement

Money272

Former state university employee Linda Henson, who retired in January 2018, saved $18,386 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Henson would collect as much as $903,074, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Henson received $18,981 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Henson will have already received $18,981 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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