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Chicago City Wire

Thursday, May 29, 2025

Former state university employee Zwanziger paid in $269K to pension fund, could collect $4.73M in retirement

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Former state university employee Jack Zwanziger, who retired in May 2018, saved $268,767 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zwanziger would collect as much as $4.73 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Zwanziger received $99,461 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zwanziger will have already received $307,424 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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