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Carbondale Reporter

Friday, April 19, 2024

Former state university employee Killian paid in $52K to pension fund, could collect $970K in retirement

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Former state university employee Garland Killian, who retired in January 2016, saved $52,482 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Killian would collect as much as $969,779, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Killian received $20,384 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Killian will have already received $63,006 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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