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Sangamon Sun

Thursday, April 25, 2024

Former state university employee Misiak paid in $128K to pension fund, could collect $2.41M in retirement

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Former state university employee William Misiak, who retired in July 2018, saved $127,805 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Misiak would collect as much as $2.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Misiak received $50,627 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Misiak will have already received $156,483 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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