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North Cook News

Saturday, May 17, 2025

Former state university employee Bedoya paid in $1K to pension fund, could collect $58K in retirement

Money041

Former state university employee Carlos Bedoya, who retired in June 2016, saved $1,393 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bedoya would collect as much as $58,118, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Bedoya received $1,221 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bedoya will have already received $2,479 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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