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DeKalb Times

Friday, April 18, 2025

Former state university employee Hegde paid in $26K to pension fund, could collect $558K in retirement

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Former state university employee Shankar Hegde, who retired in January 2016, saved $26,162 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Hegde would collect as much as $557,899, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Hegde received $11,726 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hegde will have already received $36,244 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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