Lake County Gazette

Lake County Gazette

Thursday, November 14, 2019

Former state university employee Kyriakos paid in $141K to pension fund, could collect $2.77M in retirement

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By Local Labs News Service | Feb 1, 2019

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Former state university employee Christopher Kyriakos, who retired in January 2019, saved $141,481 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kyriakos would collect as much as $2.77 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Kyriakos received $58,212 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kyriakos will have already received $179,927 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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