Chicago City Wire

Chicago City Wire

Thursday, October 17, 2019

Former state university employee Kuh Ociepka paid in $52K to pension fund, could collect $993K in retirement


By Local Labs News Service | Jan 1, 2018

Former state university employee Karen Kuh Ociepka, who retired in December 2017, saved $52,271 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kuh Ociepka would collect as much as $992,763, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kuh Ociepka received $20,867 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kuh Ociepka will have already received $64,498 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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