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DeKalb Times

Monday, November 18, 2024

Former state university employee Sidebottom paid in $17K to pension fund, could collect $198K in retirement

Money 05

Former state university employee Neal Sidebottom, who retired in April 2018, saved $16,974 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sidebottom would collect as much as $197,938, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Sidebottom received $4,160 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sidebottom will have already received $17,405 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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