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Chicago City Wire

Friday, May 17, 2024

Former state university employee Rosenbush paid in $41K to pension fund, could collect $653K in retirement

Money 07

Former state university employee Miriam Rosenbush, who retired in April 2016, saved $40,858 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rosenbush would collect as much as $653,269, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Rosenbush received $13,731 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rosenbush will have already received $42,441 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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