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Carbondale Reporter

Saturday, November 23, 2024

Former state university employee Gordon paid in $5K to pension fund, could collect $150K in retirement

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Former state university employee Kim Gordon, who retired in January 2017, saved $4,796 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gordon would collect as much as $150,279, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Gordon received $3,158 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gordon will have already received $6,411 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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