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West Central Reporter

Saturday, April 20, 2024

Former state university employee Bollin paid in $35K to pension fund, could collect $746K in retirement

Money 03

Former state university employee Carol Bollin, who retired in January 2016, saved $35,384 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bollin would collect as much as $745,527, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Bollin received $15,670 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bollin will have already received $48,434 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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