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Monday, January 27, 2020

Former state university employee Buettner paid in $266K to pension fund, could collect $5.43M in retirement

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By Local Labs News Service | Feb 1, 2016

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Former state university employee Kathryn Buettner, who retired in January 2016, saved $266,172 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Buettner would collect as much as $5.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Buettner received $114,055 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Buettner will have already received $352,533 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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