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South Cook News

Saturday, April 20, 2024

Former state university employee Donna paid in $186K to pension fund, could collect $3.85M in retirement

Money 05

Former state university employee Rebecca Donna, who retired in January 2017, saved $185,954 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Donna would collect as much as $3.85 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Donna received $80,834 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Donna will have already received $249,850 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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