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DeKalb Times

Saturday, November 23, 2024

Former state university employee Dziekan paid in $44K to pension fund, could collect $599K in retirement

Money 06

Former state university employee Dennis Dziekan, who retired in March 2017, saved $43,672 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dziekan would collect as much as $599,039, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Dziekan received $12,591 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dziekan will have already received $52,677 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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