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McLean County Times

Friday, November 1, 2024

Former state university employee Linton paid in $29K to pension fund, could collect $1.68M in retirement

Money 06

Former state university employee Sara Linton, who retired in November 2018, saved $28,885 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Linton would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Linton received $35,238 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Linton will have already received $35,238 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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