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Carbondale Reporter

Tuesday, November 26, 2024

Former state university employee McRoy paid in $39K to pension fund, could collect $644K in retirement

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Former state university employee Michael McRoy, who retired in January 2017, saved $39,173 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, McRoy would collect as much as $644,169, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes McRoy received $13,539 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, McRoy will have already received $41,847 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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