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Metro East Sun

Sunday, May 5, 2024

Former state university employee Kuebrich paid in $60K to pension fund, could collect $1.1M in retirement

Money 04

Former state university employee Patricia Kuebrich, who retired in May 2018, saved $60,406 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kuebrich would collect as much as $1.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Kuebrich received $23,214 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kuebrich will have already received $71,751 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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