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Rock Island Today

Sunday, May 18, 2025

Former state university employee Slater paid in $74K to pension fund, could collect $1.6M in retirement

Money 08

Former state university employee Daniel Slater, who retired in July 2017, saved $74,161 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Slater would collect as much as $1.6 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Slater received $33,575 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Slater will have already received $103,776 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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