Quantcast

DeKalb Times

Monday, November 25, 2024

Former state university employee Bergman paid in $9K to pension fund, could collect $196K in retirement

Money 04

Former state university employee Susan Bergman, who retired in January 2017, saved $9,039 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bergman would collect as much as $196,248, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Bergman received $4,125 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bergman will have already received $12,750 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS