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South Central Reporter

Wednesday, November 6, 2024

Former state university employee Kurwicki paid in $33K to pension fund, could collect $687K in retirement

Money 07

Former state university employee Joseph Kurwicki, who retired in May 2018, saved $33,039 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kurwicki would collect as much as $687,426, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Kurwicki received $14,449 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kurwicki will have already received $44,659 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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