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Chicago City Wire

Friday, April 19, 2024

Former state university employee Bedoe paid in $7K to pension fund, could collect $190K in retirement

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Former state university employee Sandra Bedoe, who retired in June 2016, saved $6,601 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bedoe would collect as much as $189,883, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bedoe received $3,991 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bedoe will have already received $8,102 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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