Former state university employee Bakshis paid in $21K to pension fund, could collect $437K in retirement

Former state university employee Robert Bakshis, who retired in January 2017, saved $21,004 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bakshis would collect as much as $436,679, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Bakshis received $9,178 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bakshis will have already received $28,368 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.