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Chambana Sun

Sunday, July 6, 2025

Former state university employee Kubetz paid in $69K to pension fund, could collect $1.02M in retirement

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Former state university employee Richard Kubetz, who retired in May 2017, saved $69,163 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kubetz would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Kubetz received $21,373 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kubetz will have already received $89,415 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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