Former state university employee Koz paid in $14K to pension fund, could collect $319K in retirement

Former state university employee Donald Koz, who retired in June 2016, saved $13,634 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Koz would collect as much as $319,078, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Koz received $6,706 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Koz will have already received $20,727 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.