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Galesburg Reporter

Tuesday, December 24, 2024

Former state university employee Secrist paid in $8K to pension fund, could collect $113K in retirement

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Former state university employee Kathy Secrist, who retired in August 2016, saved $8,330 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Secrist would collect as much as $112,593, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Secrist received $2,366 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Secrist will have already received $9,898 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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