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DeKalb Times

Saturday, April 19, 2025

Former state university employee Sheets paid in $22K to pension fund, could collect $676K in retirement

Money 01

Former state university employee Michele Sheets, who retired in May 2017, saved $21,798 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sheets would collect as much as $676,391, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Sheets received $14,217 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sheets will have already received $28,861 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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