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Will County Gazette

Saturday, April 20, 2024

Former state university employee Mizera paid in $213K to pension fund, could collect $4.72M in retirement

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Former state university employee Peter Mizera, who retired in July 2016, saved $213,294 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mizera would collect as much as $4.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Mizera received $99,213 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mizera will have already received $306,657 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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