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Kane County Reporter

Thursday, April 24, 2025

Former state university employee Stefek paid in $53K to pension fund, could collect $763K in retirement

Money 07

Former state university employee William Stefek, who retired in November 2018, saved $53,180 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stefek would collect as much as $763,299, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Stefek received $16,044 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Stefek will have already received $67,122 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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