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Carbondale Reporter

Wednesday, April 24, 2024

Former state university employee Frew paid in $59K to pension fund, could collect $884K in retirement

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Former state university employee Loretta Frew, who retired in March 2019, saved $58,678 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Frew would collect as much as $883,760, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Frew received $18,576 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Frew will have already received $77,714 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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