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Carbondale Reporter

Thursday, April 25, 2024

Former state university employee Neville paid in $10K to pension fund, could collect $143K in retirement

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Former state university employee Craig Neville, who retired in March 2018, saved $9,663 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Neville would collect as much as $142,726, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Neville received $3,000 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Neville will have already received $12,551 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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