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DeKalb Times

Saturday, April 19, 2025

Former state university employee Sheehan paid in $47K to pension fund, could collect $781K in retirement

Money 05

Former state university employee Matthew Sheehan, who retired in May 2016, saved $46,997 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sheehan would collect as much as $781,346, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Sheehan received $16,423 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sheehan will have already received $50,762 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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