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West Cook News

Saturday, April 20, 2024

Former state university employee Bozeman paid in $79 to pension fund, could collect $6K in retirement

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Former state university employee Ray Bozeman, who retired in March 2019, saved $79 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bozeman would collect as much as $5,709, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Bozeman received $120 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Bozeman will have already received $120 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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