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South Central Reporter

Tuesday, November 12, 2024

Former state university employee Ash paid in $7K to pension fund, could collect $104K in retirement

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Former state university employee Larry Ash, who retired in June 2016, saved $6,561 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ash would collect as much as $103,779, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Ash received $2,181 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ash will have already received $6,740 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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