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West Cook News

Saturday, May 24, 2025

Former state university employee Okal paid in $21K to pension fund, could collect $783K in retirement

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Former state university employee John Okal, who retired in November 2018, saved $21,282 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Okal would collect as much as $783,116, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Okal received $16,460 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Okal will have already received $33,414 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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