Quantcast

DeKalb Times

Sunday, July 6, 2025

Former state university employee Jones paid in $41K to pension fund, could collect $859K in retirement

Money 06

Former state university employee Glenda Jones, who retired in July 2016, saved $40,850 toward a pension over 21 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jones would collect as much as $859,063, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Jones received $18,056 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jones will have already received $55,810 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS