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Carbondale Reporter

Monday, December 23, 2024

Former state university employee Biggs paid in $50K to pension fund, could collect $708K in retirement

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Former state university employee David Biggs, who retired in July 2017, saved $49,637 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Biggs would collect as much as $707,819, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Biggs received $14,877 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Biggs will have already received $62,239 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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