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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Yoakum paid in $142K to pension fund, could collect $1.85M in retirement

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Former state university employee Linda Yoakum, who retired in May 2017, saved $141,724 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Yoakum would collect as much as $1.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Yoakum received $38,982 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Yoakum will have already received $163,086 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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