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Chicago City Wire

Sunday, May 25, 2025

Former state university employee Zak paid in $36K to pension fund, could collect $752K in retirement

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Former state university employee Concetta Zak, who retired in September 2017, saved $36,282 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zak would collect as much as $752,452, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Zak received $15,816 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zak will have already received $48,885 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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