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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Stefaniak paid in $27K to pension fund, could collect $517K in retirement

Money 05

Former state university employee Theodore Stefaniak, who retired in January 2017, saved $26,914 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Stefaniak would collect as much as $517,182, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Stefaniak received $10,870 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stefaniak will have already received $33,598 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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