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Former state university employee Roebuck Knight paid in $41K to pension fund, could collect $667K in retirement

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By Local Labs News Service | Sep 1, 2016

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Former state university employee Marlette Roebuck Knight, who retired in August 2016, saved $41,179 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Roebuck Knight would collect as much as $666,514, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Roebuck Knight received $14,009 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Roebuck Knight will have already received $43,300 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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