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East Central Reporter

Saturday, April 20, 2024

Former state university employee Pryor paid in $31K to pension fund, could collect $1.29M in retirement

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Former state university employee Robert Pryor, who retired in March 2016, saved $31,375 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Pryor would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Pryor received $27,061 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pryor will have already received $54,934 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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