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Lake County Gazette

Sunday, June 29, 2025

Former state university employee Kaltsas paid in $9K to pension fund, could collect $85K in retirement

Money 02

Former state university employee James Kaltsas, who retired in June 2016, saved $8,669 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kaltsas would collect as much as $85,453, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Kaltsas received $1,796 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Kaltsas will have already received $9,537 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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