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Lake County Gazette

Friday, April 26, 2024

Former state university employee Denson paid in $53K to pension fund, could collect $827K in retirement

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Former state university employee Ramona Denson, who retired in July 2018, saved $52,838 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Denson would collect as much as $827,452, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Denson received $17,392 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Denson will have already received $53,757 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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