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Sangamon Sun

Wednesday, May 14, 2025

Former state university employee Bellamey paid in $177K to pension fund, could collect $5.32M in retirement

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Former state university employee Timothy Bellamey, who retired in May 2017, saved $176,697 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bellamey would collect as much as $5.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bellamey received $111,876 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bellamey will have already received $227,108 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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