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West Cook News

Friday, April 26, 2024

Former state university employee Zicher paid in $44K to pension fund, could collect $848K in retirement

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Former state university employee Marie Ange Zicher, who retired in July 2017, saved $44,208 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zicher would collect as much as $847,811, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Zicher received $17,820 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zicher will have already received $55,081 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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