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Illinois Valley Times

Monday, April 28, 2025

Former state university employee Bowen paid in $17K to pension fund, could collect $274K in retirement

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Former state university employee Teresa Bowen, who retired in March 2017, saved $16,750 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bowen would collect as much as $273,794, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Bowen received $5,754 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bowen will have already received $17,786 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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