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Carbondale Reporter

Friday, April 19, 2024

Former state university employee Romero paid in $50K to pension fund, could collect $662K in retirement

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Former state university employee Roseann Romero, who retired in December 2018, saved $50,232 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Romero would collect as much as $662,249, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Romero received $13,920 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Romero will have already received $58,237 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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