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Galesburg Reporter

Tuesday, December 24, 2024

Former state university employee Ellison paid in $12K to pension fund, could collect $248K in retirement

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Former state university employee Marlene Ellison, who retired in August 2016, saved $12,061 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ellison would collect as much as $247,778, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Ellison received $5,208 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ellison will have already received $16,097 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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