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Chicago City Wire

Saturday, May 4, 2024

Former state university employee Marchevsky paid in $78K to pension fund, could collect $1.38M in retirement

Money272

Former state university employee Feliks Marchevsky, who retired in December 2016, saved $77,778 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Marchevsky would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Marchevsky received $29,022 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marchevsky will have already received $89,705 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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