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DeKalb Times

Friday, April 18, 2025

Former state university employee Wozniak paid in $89K to pension fund, could collect $1.81M in retirement

Money 05

Former state university employee Richard Wozniak, who retired in January 2016, saved $89,366 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wozniak would collect as much as $1.81 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Wozniak received $38,147 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wozniak will have already received $117,908 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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