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North Cook News

Saturday, May 17, 2025

Former state university employee Szatkowski paid in $47K to pension fund, could collect $722K in retirement

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Former state university employee Wayne Szatkowski, who retired in May 2016, saved $46,895 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Szatkowski would collect as much as $722,240, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Szatkowski received $15,180 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Szatkowski will have already received $46,919 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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