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North Egypt News

Friday, April 4, 2025

Former state university employee Page paid in $11K to pension fund, could collect $630K in retirement

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Former state university employee Richard Page, who retired in January 2017, saved $10,756 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Page would collect as much as $630,090, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Page received $13,244 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Page will have already received $13,244 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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