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West Cook News

Sunday, May 25, 2025

Former state university employee Schochat paid in $235K to pension fund, could collect $5.69M in retirement

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Former state university employee Rainer Schochat, who retired in June 2018, saved $234,995 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Schochat would collect as much as $5.69 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Schochat received $119,544 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Schochat will have already received $242,674 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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