Quantcast

Chicago City Wire

Wednesday, April 24, 2024

Former state university employee Dokic paid in $38K to pension fund, could collect $577K in retirement

Shutterstock 121161052

Former state university employee Milka Dokic, who retired in January 2016, saved $38,439 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dokic would collect as much as $576,676, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dokic received $12,121 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dokic will have already received $50,712 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS