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Carbondale Reporter

Sunday, November 24, 2024

Former state university employee Muchow paid in $15K to pension fund, could collect $206K in retirement

Money 08

Former state university employee Sally Muchow, who retired in February 2017, saved $14,944 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Muchow would collect as much as $205,999, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Muchow received $4,329 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Muchow will have already received $18,112 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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