Former state university employee Bergin paid in $16K to pension fund, could collect $435K in retirement

By Local Labs News Service

Feb 1, 2018

Former state university employee Terence Bergin, who retired in January 2018, saved $16,278 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bergin would collect as much as $434,652, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Bergin received $9,136 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bergin will have already received $18,546 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Joliet Junior College

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