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East Central Reporter

Saturday, November 23, 2024

Former state university employee Sweeney paid in $54K to pension fund, could collect $966K in retirement

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Former state university employee Kimberly Sweeney, who retired in September 2017, saved $53,851 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sweeney would collect as much as $966,410, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Sweeney received $20,313 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sweeney will have already received $62,785 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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