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Carbondale Reporter

Friday, November 22, 2024

Former state university employee Lucas paid in $34K to pension fund, could collect $581K in retirement

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Former state university employee Debra Lucas, who retired in October 2018, saved $33,998 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Lucas would collect as much as $581,346, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Lucas received $12,219 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lucas will have already received $37,769 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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