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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Tomczyk paid in $4K to pension fund, could collect $182K in retirement

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Former state university employee Thomas Tomczyk, who retired in February 2016, saved $3,803 toward a pension over 6 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tomczyk would collect as much as $182,107, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tomczyk received $3,827 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Tomczyk will have already received $3,827 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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