Former state university employee Kovacs paid in $194K to pension fund, could collect $4.62M in retirement

By Local Labs News Service

Jul 1, 2018

Former state university employee Susan Kovacs, who retired in June 2018, saved $193,731 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kovacs would collect as much as $4.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kovacs received $97,079 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kovacs will have already received $197,070 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Chicago

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