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Former state university employee Muyot paid in $36K to pension fund, could collect $532K in retirement

Schools

By Local Labs News Service | Aug 1, 2018

Money 08

Former state university employee Maria Muyot, who retired in July 2018, saved $35,924 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Muyot would collect as much as $531,586, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Muyot received $11,173 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Muyot will have already received $46,743 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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