Former state university employee Kozak paid in $61K to pension fund, could collect $921K in retirement

By Local Labs News Service

Feb 1, 2019

Former state university employee James Kozak, who retired in January 2019, saved $61,231 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kozak would collect as much as $921,440, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Kozak received $19,368 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kozak will have already received $81,027 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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Illinois State University

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