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DeKalb Times

Sunday, July 27, 2025

Former state university employee Sheehan paid in $110K to pension fund, could collect $1.68M in retirement

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Former state university employee Michael Sheehan, who retired in December 2016, saved $109,603 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sheehan would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Sheehan received $35,341 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sheehan will have already received $147,853 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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