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Sangamon Sun

Saturday, November 23, 2024

Former state university employee Ziszik paid in $108K to pension fund, could collect $1.32M in retirement

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Former state university employee Cheryl Ziszik, who retired in June 2018, saved $107,969 toward a pension over 17 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ziszik would collect as much as $1.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ziszik received $27,756 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ziszik will have already received $116,122 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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