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West Central Reporter

Tuesday, November 26, 2024

Former state university employee Dorman paid in $26K to pension fund, could collect $452K in retirement

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Former state university employee Patricia Dorman, who retired in June 2016, saved $26,109 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dorman would collect as much as $452,356, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Dorman received $9,508 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dorman will have already received $29,388 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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