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Will County Gazette

Friday, June 20, 2025

Former state university employee Palcu paid in $7K to pension fund, could collect $432K in retirement

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Former state university employee John Palcu, who retired in June 2018, saved $6,565 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Palcu would collect as much as $431,621, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Palcu received $9,072 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Palcu will have already received $9,072 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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