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Macon Reporter

Sunday, November 24, 2024

Former state university employee Fabian paid in $10K to pension fund, could collect $161K in retirement

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Former state university employee Carolyn Fabian, who retired in June 2017, saved $9,732 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fabian would collect as much as $161,377, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Fabian received $3,392 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fabian will have already received $10,485 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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