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East Central Reporter

Thursday, April 25, 2024

Former state university employee Barlow paid in $18K to pension fund, could collect $322K in retirement

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Former state university employee Darlene Barlow, who retired in October 2018, saved $18,234 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Barlow would collect as much as $322,384, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Barlow received $6,776 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Barlow will have already received $20,943 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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