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Chicago City Wire

Tuesday, November 26, 2024

Former state university employee Flesher paid in $109K to pension fund, could collect $1.73M in retirement

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Former state university employee William Flesher, who retired in February 2017, saved $109,270 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Flesher would collect as much as $1.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Flesher received $36,276 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Flesher will have already received $112,125 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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