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West Central Reporter

Wednesday, November 27, 2024

Former state university employee Conlon paid in $6K to pension fund, could collect $165K in retirement

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Former state university employee Susan Conlon, who retired in October 2016, saved $6,041 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Conlon would collect as much as $165,391, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Conlon received $3,476 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Conlon will have already received $7,056 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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