Sangamon Sun

Sangamon Sun

Tuesday, February 25, 2020

Former state university employee Dulakis paid in $56K to pension fund, could collect $735K in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money759

Former state university employee Karen Dulakis, who retired in January 2016, saved $55,557 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dulakis would collect as much as $735,188, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Dulakis received $15,453 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dulakis will have already received $64,652 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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