Former state university employee Cappetta paid in $246K to pension fund, could collect $5.06M in retirement

Former state university employee Robert Cappetta, who retired in June 2016, saved $246,235 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cappetta would collect as much as $5.06 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Cappetta received $106,443 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cappetta will have already received $329,004 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.