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Carbondale Reporter

Friday, November 22, 2024

Former state university employee Logeman paid in $47K to pension fund, could collect $1.07M in retirement

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Former state university employee Tracey Logeman, who retired in August 2016, saved $47,069 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Logeman would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Logeman received $22,393 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Logeman will have already received $69,215 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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