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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Eber paid in $9K to pension fund, could collect $198K in retirement

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Former state university employee Richard Eber, who retired in January 2017, saved $9,169 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Eber would collect as much as $198,052, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Eber received $4,162 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eber will have already received $12,865 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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