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Chicago City Wire

Saturday, April 20, 2024

Former state university employee Czuchra paid in $11K to pension fund, could collect $333K in retirement

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Former state university employee James Czuchra, who retired in January 2017, saved $10,507 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Czuchra would collect as much as $332,940, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Czuchra received $6,998 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Czuchra will have already received $14,206 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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