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Will County Gazette

Saturday, April 20, 2024

Former state university employee Sladek paid in $38K to pension fund, could collect $547K in retirement

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Former state university employee Larry Sladek, who retired in April 2017, saved $38,109 toward a pension over 8 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sladek would collect as much as $546,784, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Sladek received $11,493 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sladek will have already received $48,083 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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