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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Dulmes paid in $267K to pension fund, could collect $5.94M in retirement

Money 04

Former state university employee Steven Dulmes, who retired in June 2017, saved $267,038 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dulmes would collect as much as $5.94 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Dulmes received $124,848 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dulmes will have already received $385,892 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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