Quantcast

DeKalb Times

Monday, November 18, 2024

Former state university employee Bergman paid in $62K to pension fund, could collect $1.08M in retirement

Shutterstock 65427295

Former state university employee Robert Bergman, who retired in March 2018, saved $61,727 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bergman would collect as much as $1.08 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Bergman received $22,662 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bergman will have already received $70,046 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS