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Carbondale Reporter

Wednesday, April 24, 2024

Former state university employee Kageff paid in $28K to pension fund, could collect $475K in retirement

Money 06

Former state university employee Kathleen Kageff, who retired in January 2019, saved $27,624 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kageff would collect as much as $474,992, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Kageff received $9,984 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kageff will have already received $30,861 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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