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DeKalb Times

Sunday, November 17, 2024

Former state university employee Ebrahimi paid in $165K to pension fund, could collect $5.48M in retirement

Money836

Former state university employee Nader Ebrahimi, who retired in June 2018, saved $165,326 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ebrahimi would collect as much as $5.48 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Ebrahimi received $115,246 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ebrahimi will have already received $233,949 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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