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East Central Reporter

Wednesday, November 27, 2024

Former state university employee Movshovich paid in $39K to pension fund, could collect $588K in retirement

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Former state university employee Yevgenya Movshovich, who retired in January 2016, saved $39,322 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Movshovich would collect as much as $587,906, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Movshovich received $12,357 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Movshovich will have already received $51,698 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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