Quantcast

DeKalb Times

Saturday, April 19, 2025

Former state university employee Tarbay paid in $112K to pension fund, could collect $2.24M in retirement

Shutterstock 233512279

Former state university employee George Tarbay, who retired in February 2017, saved $112,298 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tarbay would collect as much as $2.24 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Tarbay received $47,093 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tarbay will have already received $145,560 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS