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DeKalb Times

Thursday, November 7, 2024

Former state university employee Bauer paid in $25K to pension fund, could collect $880K in retirement

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Former state university employee Bradley Bauer, who retired in October 2018, saved $24,852 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bauer would collect as much as $879,998, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Bauer received $18,496 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bauer will have already received $37,547 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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