Former state university employee Mowrer paid in $63K to pension fund, could collect $1.18M in retirement

By Local Labs News Service

Feb 1, 2016

Former state university employee Curt Mowrer, who retired in January 2016, saved $62,540 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mowrer would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Mowrer received $24,874 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mowrer will have already received $76,883 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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