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Rockford Sun

Friday, April 19, 2024

Former state university employee Nauman paid in $6K to pension fund, could collect $92K in retirement

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Former state university employee Carol Nauman, who retired in January 2018, saved $6,329 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nauman would collect as much as $91,807, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Nauman received $1,929 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Nauman will have already received $8,071 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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