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Carbondale Reporter

Tuesday, December 24, 2024

Former state university employee Gatlin paid in $19K to pension fund, could collect $613K in retirement

Money759

Former state university employee Cherie Gatlin, who retired in July 2017, saved $19,153 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gatlin would collect as much as $613,254, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Gatlin received $12,890 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gatlin will have already received $26,167 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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