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Will County Gazette

Sunday, November 24, 2024

Former state university employee Czerny paid in $43K to pension fund, could collect $1.05M in retirement

Money 08

Former state university employee Dennis Czerny, who retired in February 2017, saved $42,752 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Czerny would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Czerny received $22,115 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Czerny will have already received $44,893 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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