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South Cook News

Wednesday, April 30, 2025

Former state university employee Engblom paid in $5K to pension fund, could collect $133K in retirement

Money759

Former state university employee Thomas Engblom, who retired in April 2016, saved $5,204 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Engblom would collect as much as $132,963, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Engblom received $2,794 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Engblom will have already received $5,672 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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