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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Tatham paid in $25K to pension fund, could collect $873K in retirement

Money 07

Former state university employee Gregory Tatham, who retired in February 2017, saved $24,966 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tatham would collect as much as $873,381, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Tatham received $18,357 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Tatham will have already received $37,265 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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