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East Central Reporter

Thursday, April 18, 2024

Former state university employee Gordon paid in $93K to pension fund, could collect $1.71M in retirement

Money041

Former state university employee Evgeny Gordon, who retired in September 2018, saved $93,390 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gordon would collect as much as $1.71 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Gordon received $35,900 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gordon will have already received $110,963 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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