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South Cook News

Wednesday, November 12, 2025

Former state university employee Zaker paid in $47K to pension fund, could collect $1M in retirement

Money 05

Former state university employee Irene Zaker, who retired in February 2016, saved $47,134 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Zaker would collect as much as $1 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Zaker received $21,078 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zaker will have already received $65,149 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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