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Chicago City Wire

Friday, April 19, 2024

Former state university employee Dantzler paid in $48K to pension fund, could collect $1M in retirement

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Former state university employee Ann Dantzler, who retired in June 2017, saved $48,193 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dantzler would collect as much as $1 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dantzler received $21,104 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dantzler will have already received $65,230 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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