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East Central Reporter

Friday, April 26, 2024

Former state university employee Hussey paid in $66K to pension fund, could collect $1.27M in retirement

Money 07

Former state university employee Kathryn Hussey, who retired in June 2017, saved $66,361 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hussey would collect as much as $1.27 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Hussey received $26,784 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hussey will have already received $82,788 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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