Former state university employee Jakubas paid in $76K to pension fund, could collect $1.68M in retirement

Former state university employee Lucy Jakubas, who retired in June 2017, saved $75,883 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jakubas would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Jakubas received $35,247 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jakubas will have already received $108,944 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.