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Dupage Policy Journal

Tuesday, April 16, 2024

Former state university employee Raepple paid in $137K to pension fund, could collect $2.52M in retirement

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Former state university employee Eva Maria Raepple, who retired in September 2018, saved $136,640 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Raepple would collect as much as $2.52 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Raepple received $52,977 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Raepple will have already received $163,746 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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