Quantcast

Dupage Policy Journal

Wednesday, April 24, 2024

Former state university employee Grezek paid in $76K to pension fund, could collect $1.48M in retirement

Money 04

Former state university employee Lynne Grezek, who retired in May 2018, saved $76,472 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Grezek would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Grezek received $31,068 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Grezek will have already received $96,028 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS