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South Cook News

Thursday, April 25, 2024

Former state university employee Deuchler paid in $4K to pension fund, could collect $50K in retirement

Money 05

Former state university employee Douglas Deuchler, who retired in April 2018, saved $3,778 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Deuchler would collect as much as $49,651, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Deuchler received $1,043 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Deuchler will have already received $4,362 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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