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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Soltys paid in $259K to pension fund, could collect $4.15M in retirement

Money 02

Former state university employee Stephen Soltys, who retired in May 2016, saved $259,141 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Soltys would collect as much as $4.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Soltys received $87,331 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Soltys will have already received $269,932 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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