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North Cook News

Monday, November 17, 2025

Former state university employee Firak paid in $208K to pension fund, could collect $4.34M in retirement

Money 05

Former state university employee Thomas Firak, who retired in June 2017, saved $207,637 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Firak would collect as much as $4.34 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Firak received $91,274 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Firak will have already received $282,118 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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