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North Egypt News

Thursday, December 26, 2024

Former state university employee Corn paid in $127K to pension fund, could collect $2.92M in retirement

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Former state university employee Cynthia Corn, who retired in June 2017, saved $127,051 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Corn would collect as much as $2.92 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Corn received $61,329 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Corn will have already received $189,562 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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