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Chicago City Wire

Friday, April 19, 2024

Former state university employee Brunson Allen paid in $15K to pension fund, could collect $426K in retirement

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Former state university employee Pamela Brunson Allen, who retired in June 2017, saved $14,558 toward a pension over 3 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Brunson Allen would collect as much as $425,529, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brunson Allen received $8,944 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Brunson Allen will have already received $18,156 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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