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McLean County Times

Tuesday, November 26, 2024

Former state university employee Bergethon paid in $137K to pension fund, could collect $3.19M in retirement

Money272

Former state university employee Bruce Bergethon, who retired in January 2016, saved $136,781 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bergethon would collect as much as $3.19 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Bergethon received $67,082 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bergethon will have already received $207,343 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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