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Illinois Valley Times

Monday, April 28, 2025

Former state university employee Sankovich paid in $68K to pension fund, could collect $2.9M in retirement

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Former state university employee Michael Sankovich, who retired in June 2018, saved $67,521 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Sankovich would collect as much as $2.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Sankovich received $60,873 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sankovich will have already received $123,572 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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