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Sangamon Sun

Sunday, November 24, 2024

Former state university employee Zokal paid in $105K to pension fund, could collect $1.96M in retirement

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Former state university employee Patricia Zokal, who retired in July 2017, saved $104,784 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zokal would collect as much as $1.96 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Zokal received $41,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zokal will have already received $127,036 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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