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South Cook News

Wednesday, May 14, 2025

Former state university employee Kasper paid in $98K to pension fund, could collect $2.2M in retirement

Money 05

Former state university employee Steven Kasper, who retired in January 2016, saved $98,045 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kasper would collect as much as $2.2 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Kasper received $46,138 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kasper will have already received $142,608 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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