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DeKalb Times

Thursday, May 15, 2025

Former state university employee Venskus paid in $49K to pension fund, could collect $1M in retirement

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Former state university employee James Venskus, who retired in May 2017, saved $49,005 toward a pension over 13 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Venskus would collect as much as $1 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Venskus received $21,075 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Venskus will have already received $65,140 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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