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East Central Reporter

Saturday, November 23, 2024

Former state university employee Nadler paid in $198K to pension fund, could collect $2.79M in retirement

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Former state university employee Daniel Nadler, who retired in August 2016, saved $198,432 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nadler would collect as much as $2.79 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Nadler received $58,739 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Nadler will have already received $245,741 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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