Will County Gazette

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Former state university employee Bez paid in $75K to pension fund, could collect $1.17M in retirement

Schools

By Local Labs News Service | Aug 1, 2016

Money 06

Former state university employee Karen Bez, who retired in July 2016, saved $74,590 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Bez would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Bez received $24,696 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bez will have already received $76,333 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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