Lake County Gazette

Lake County Gazette

Saturday, December 14, 2019

Former state university employee Bradley paid in $198K to pension fund, could collect $3.87M in retirement

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By Local Labs News Service | Apr 1, 2019

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Former state university employee Gregg Bradley, who retired in March 2019, saved $198,259 toward a pension over 40 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bradley would collect as much as $3.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Bradley received $81,420 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bradley will have already received $251,662 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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