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North Egypt News

Sunday, February 23, 2025

Former state university employee Welch paid in $782 to pension fund, could collect $40K in retirement

Money 01

Former state university employee Sharon Welch, who retired in October 2016, saved $782 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Welch would collect as much as $40,117, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Welch received $843 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Welch will have already received $843 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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