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Lake County Gazette

Monday, November 25, 2024

Former state university employee Kaplan paid in $3K to pension fund, could collect $100K in retirement

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Former state university employee Reva Kaplan, who retired in May 2016, saved $2,782 toward a pension over 2 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kaplan would collect as much as $100,302, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Kaplan received $2,108 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kaplan will have already received $4,279 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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