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DeKalb Times

Saturday, July 5, 2025

Former state university employee Kimmel paid in $105K to pension fund, could collect $1.69M in retirement

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Former state university employee Steven Kimmel, who retired in January 2019, saved $104,523 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kimmel would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Kimmel received $35,604 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kimmel will have already received $110,048 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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