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Peoria Standard

Friday, April 19, 2024

Former state university employee Straub paid in $228 to pension fund, could collect $125K in retirement

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Former state university employee Marcia Straub, who retired in May 2018, saved $228 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Straub would collect as much as $124,542, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Straub received $2,617 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Straub will have already received $2,617 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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