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Chicago City Wire

Thursday, April 25, 2024

Former state university employee Mazur paid in $149K to pension fund, could collect $2.98M in retirement

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Former state university employee Kazimiera Mazur, who retired in May 2018, saved $148,974 toward a pension over 33 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mazur would collect as much as $2.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mazur received $62,682 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mazur will have already received $193,743 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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