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Peoria Standard

Sunday, November 24, 2024

Former state university employee Ahl paid in $11K to pension fund, could collect $170K in retirement

Money759

Former state university employee Marilyn Ahl, who retired in September 2017, saved $10,543 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ahl would collect as much as $169,861, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Ahl received $3,570 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ahl will have already received $11,034 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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