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Carbondale Reporter

Wednesday, April 17, 2024

Former state university employee Brandon paid in $86K to pension fund, could collect $1.42M in retirement

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Former state university employee Anita Brandon, who retired in April 2017, saved $86,441 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brandon would collect as much as $1.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Brandon received $29,768 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brandon will have already received $92,010 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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