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West Cook News

Monday, December 23, 2024

Former state university employee Kardatzke paid in $40K to pension fund, could collect $727K in retirement

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Former state university employee Brenda Kardatzke, who retired in June 2016, saved $40,048 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kardatzke would collect as much as $726,750, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Kardatzke received $15,275 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kardatzke will have already received $47,213 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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