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Chicago City Wire

Sunday, May 25, 2025

Former state university employee Crnich paid in $171K to pension fund, could collect $3.95M in retirement

Money 04

Former state university employee Richard Crnich, who retired in October 2017, saved $171,133 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Crnich would collect as much as $3.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Crnich received $83,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crnich will have already received $256,848 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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