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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Susinka paid in $190K to pension fund, could collect $3.92M in retirement

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Former state university employee William Susinka, who retired in January 2017, saved $189,988 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Susinka would collect as much as $3.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Susinka received $82,302 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Susinka will have already received $254,387 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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