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Metro East Sun

Friday, November 22, 2024

Former state university employee Knopf paid in $4K to pension fund, could collect $72K in retirement

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Former state university employee Darla Knopf, who retired in April 2016, saved $3,601 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Knopf would collect as much as $72,379, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Knopf received $1,521 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knopf will have already received $4,702 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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