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Peoria Standard

Monday, November 25, 2024

Former state university employee Shryock paid in $5K to pension fund, could collect $122K in retirement

Money 04

Former state university employee Elizabeth Shryock, who retired in November 2017, saved $5,415 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Shryock would collect as much as $122,173, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Shryock received $2,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shryock will have already received $7,937 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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