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Metro East Sun

Monday, November 25, 2024

Former state university employee Haberer paid in $100K to pension fund, could collect $1.73M in retirement

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Former state university employee Lora Haberer, who retired in January 2019, saved $99,588 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Haberer would collect as much as $1.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Haberer received $36,300 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Haberer will have already received $112,200 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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