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West Cook News

Thursday, April 18, 2024

Former state university employee Gaszcz paid in $10K to pension fund, could collect $134K in retirement

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Former state university employee Tadeusz Gaszcz, who retired in December 2017, saved $9,725 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gaszcz would collect as much as $133,591, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Gaszcz received $2,808 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Gaszcz will have already received $11,747 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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