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Rockford Sun

Monday, November 25, 2024

Former state university employee Whitlow paid in $64K to pension fund, could collect $1.16M in retirement

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Former state university employee Rebecca Whitlow, who retired in July 2017, saved $64,449 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Whitlow would collect as much as $1.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Whitlow received $24,305 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Whitlow will have already received $75,124 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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