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DeKalb Times

Friday, November 22, 2024

Former state university employee Blum paid in $21K to pension fund, could collect $333K in retirement

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Former state university employee Beth Blum, who retired in March 2016, saved $20,831 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Blum would collect as much as $333,431, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Blum received $7,008 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Blum will have already received $21,661 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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