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Dupage Policy Journal

Saturday, April 20, 2024

Former state university employee Utria paid in $48K to pension fund, could collect $1.02M in retirement

Money 03

Former state university employee Daisy Utria, who retired in January 2016, saved $47,856 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Utria would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Utria received $21,502 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Utria will have already received $66,460 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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