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Chicago City Wire

Sunday, May 5, 2024

Former state university employee Green paid in $8K to pension fund, could collect $63K in retirement

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Former state university employee Deloris Green, who retired in July 2018, saved $8,157 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Green would collect as much as $63,370, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Green received $1,332 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Green will have already received $8,615 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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