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Metro East Sun

Friday, April 19, 2024

Former state university employee Bartholomew paid in $51K to pension fund, could collect $937K in retirement

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Former state university employee Todd Bartholomew, who retired in November 2018, saved $51,017 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bartholomew would collect as much as $937,425, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Bartholomew received $19,704 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bartholomew will have already received $60,903 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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