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Quincy Reporter

Monday, November 25, 2024

Former state university employee Viar paid in $27K to pension fund, could collect $439K in retirement

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Former state university employee Ronald Viar, who retired in January 2016, saved $26,944 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Viar would collect as much as $439,140, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Viar received $9,230 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Viar will have already received $28,529 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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