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Lake County Gazette

Wednesday, April 24, 2024

Former state university employee Nikolai paid in $96K to pension fund, could collect $2.23M in retirement

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Former state university employee Robin Nikolai, who retired in January 2017, saved $96,281 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nikolai would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Nikolai received $46,769 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nikolai will have already received $144,558 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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