Former state university employee Marvin paid in $54K to pension fund, could collect $1.16M in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee Linda Marvin, who retired in January 2019, saved $53,679 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Marvin would collect as much as $1.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Marvin received $24,372 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marvin will have already received $75,331 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Southern Illinois University At Edwardsville

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