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Carbondale Reporter

Saturday, April 20, 2024

Former state university employee Kinkade paid in $20K to pension fund, could collect $359K in retirement

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Former state university employee Mark Kinkade, who retired in April 2018, saved $19,866 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kinkade would collect as much as $358,591, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Kinkade received $7,537 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kinkade will have already received $23,296 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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