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South Cook News

Wednesday, October 9, 2024

Former state university employee Rogala paid in $97K to pension fund, could collect $2.62M in retirement

Money 04

Former state university employee Patricia Rogala, who retired in July 2017, saved $96,551 toward a pension over 34 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Rogala would collect as much as $2.62 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Rogala received $54,990 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rogala will have already received $111,630 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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