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Chicago City Wire

Monday, December 23, 2024

Former state university employee Kuebler paid in $17K to pension fund, could collect $346K in retirement

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Former state university employee Terri Kuebler, who retired in August 2016, saved $17,160 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kuebler would collect as much as $346,373, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kuebler received $7,280 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kuebler will have already received $22,501 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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