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East Central Reporter

Tuesday, November 26, 2024

Former state university employee Figgins paid in $62K to pension fund, could collect $1.48M in retirement

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Former state university employee Marsha Figgins, who retired in June 2016, saved $62,171 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Figgins would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Figgins received $31,213 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Figgins will have already received $63,362 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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