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East Central Reporter

Friday, April 26, 2024

Former state university employee Robinson paid in $96K to pension fund, could collect $1.51M in retirement

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Former state university employee Marty Robinson, who retired in January 2018, saved $96,280 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Robinson would collect as much as $1.51 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Robinson received $31,740 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Robinson will have already received $98,105 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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