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McLean County Times

Friday, July 18, 2025

Former state university employee Gebhardt paid in $10K to pension fund, could collect $364K in retirement

Money 04

Former state university employee George Gebhardt, who retired in May 2017, saved $10,257 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gebhardt would collect as much as $364,391, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Gebhardt received $7,659 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gebhardt will have already received $15,548 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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