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Sangamon Sun

Tuesday, April 23, 2024

Former state university employee Jarosz paid in $217K to pension fund, could collect $4.44M in retirement

Money041

Former state university employee Krzysztof Jarosz, who retired in January 2016, saved $216,773 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jarosz would collect as much as $4.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Jarosz received $93,344 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jarosz will have already received $288,516 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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