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Carbondale Reporter

Friday, April 26, 2024

Former state university employee Clark paid in $11K to pension fund, could collect $313K in retirement

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Former state university employee Cindy Clark, who retired in August 2016, saved $11,195 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Clark would collect as much as $312,736, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Clark received $6,573 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Clark will have already received $13,343 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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