Quantcast

DeKalb Times

Wednesday, May 14, 2025

Former state university employee Hatmaker paid in $70K to pension fund, could collect $1.54M in retirement

Shutterstock 249974521

Former state university employee John Hatmaker, who retired in June 2017, saved $70,133 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hatmaker would collect as much as $1.54 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hatmaker received $32,374 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hatmaker will have already received $100,064 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS