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Carbondale Reporter

Monday, December 23, 2024

Former state university employee Besjak paid in $39K to pension fund, could collect $668K in retirement

Money 05

Former state university employee James Besjak, who retired in July 2017, saved $38,524 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Besjak would collect as much as $668,038, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Besjak received $14,041 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Besjak will have already received $43,399 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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