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Chicago City Wire

Saturday, April 20, 2024

Former state university employee Tarjan paid in $3K to pension fund, could collect $309K in retirement

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Former state university employee Gabor Tarjan, who retired in January 2018, saved $2,546 toward a pension over 1 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Tarjan would collect as much as $309,008, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tarjan received $6,495 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Tarjan will have already received $6,495 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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