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Macon Reporter

Monday, April 21, 2025

Former state university employee Kilmartin paid in $59K to pension fund, could collect $896K in retirement

Money272

Former state university employee Gary Kilmartin, who retired in January 2016, saved $59,190 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kilmartin would collect as much as $895,921, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Kilmartin received $18,831 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kilmartin will have already received $78,782 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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