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North Cook News

Monday, November 25, 2024

Former state university employee Esralew Weber paid in $25K to pension fund, could collect $397K in retirement

Money759

Former state university employee Helene Esralew Weber, who retired in February 2017, saved $25,047 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Esralew Weber would collect as much as $396,590, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Esralew Weber received $8,336 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Esralew Weber will have already received $25,766 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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