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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Wittenborn paid in $52K to pension fund, could collect $628K in retirement

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Former state university employee Scott Wittenborn, who retired in June 2017, saved $51,516 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wittenborn would collect as much as $628,429, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Wittenborn received $13,209 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wittenborn will have already received $55,260 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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