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Dupage Policy Journal

Friday, April 19, 2024

Former state university employee Delarco paid in $164K to pension fund, could collect $4.04M in retirement

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Former state university employee Mark Delarco, who retired in September 2016, saved $164,130 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Delarco would collect as much as $4.04 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Delarco received $84,930 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Delarco will have already received $172,408 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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