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Chicago City Wire

Saturday, April 20, 2024

Former state university employee Diel paid in $25K to pension fund, could collect $1.04M in retirement

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Former state university employee Bradley Diel, who retired in February 2019, saved $24,734 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Diel would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Diel received $21,780 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Diel will have already received $44,213 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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