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South Cook News

Monday, December 23, 2024

Former state university employee Bartecki paid in $40K to pension fund, could collect $1.88M in retirement

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Former state university employee Holly Bartecki, who retired in November 2018, saved $39,638 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bartecki would collect as much as $1.88 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Bartecki received $39,600 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bartecki will have already received $80,388 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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