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South Cook News

Sunday, May 19, 2024

Former state university employee Rosetti paid in $34K to pension fund, could collect $560K in retirement

Money041

Former state university employee Ross Rosetti, who retired in February 2016, saved $34,147 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rosetti would collect as much as $559,612, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Rosetti received $11,762 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rosetti will have already received $36,355 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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