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South Central Reporter

Saturday, November 23, 2024

Former state university employee Boehning paid in $102K to pension fund, could collect $1.66M in retirement

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Former state university employee Jonathan Boehning, who retired in July 2016, saved $102,199 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Boehning would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Boehning received $34,990 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Boehning will have already received $108,151 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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