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Chicago City Wire

Monday, November 25, 2024

Former state university employee Kesler paid in $5K to pension fund, could collect $788K in retirement

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Former state university employee Susan Kesler, who retired in April 2016, saved $4,637 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kesler would collect as much as $787,774, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kesler received $16,558 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Kesler will have already received $16,558 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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