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Chicago City Wire

Sunday, April 20, 2025

Former state university employee Bell paid in $113K to pension fund, could collect $3.2M in retirement

Money272

Former state university employee Timothy Bell, who retired in June 2017, saved $113,030 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bell would collect as much as $3.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Bell received $67,327 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bell will have already received $136,674 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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