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Carbondale Reporter

Thursday, April 25, 2024

Former state university employee Myatt paid in $41K to pension fund, could collect $626K in retirement

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Former state university employee Elizabeth Myatt, who retired in October 2018, saved $41,290 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Myatt would collect as much as $625,734, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Myatt received $13,152 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Myatt will have already received $55,024 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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