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South Cook News

Wednesday, May 8, 2024

Former state university employee Eberhardt paid in $154K to pension fund, could collect $3.72M in retirement

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Former state university employee Kathryn Eberhardt, who retired in January 2018, saved $153,999 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eberhardt would collect as much as $3.72 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Eberhardt received $78,096 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Eberhardt will have already received $158,535 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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