Former state university employee Petschow paid in $134K to pension fund, could collect $2.62M in retirement

Former state university employee Jeffrey Petschow, who retired in January 2018, saved $134,079 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Petschow would collect as much as $2.62 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Petschow received $55,144 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Petschow will have already received $170,444 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.