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West Cook News

Monday, November 25, 2024

Former state university employee Vujtech paid in $27K to pension fund, could collect $2.79M in retirement

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Former state university employee Alyce Vujtech, who retired in January 2016, saved $27,011 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Vujtech would collect as much as $2.79 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Vujtech received $58,665 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Vujtech will have already received $58,665 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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