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East Central Reporter

Friday, April 19, 2024

Former state university employee Stoll paid in $84K to pension fund, could collect $1.29M in retirement

Money041

Former state university employee Kerwyn Stoll, who retired in September 2016, saved $83,824 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stoll 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 Stoll received $27,084 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Stoll will have already received $113,311 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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