Quantcast

Chicago City Wire

Sunday, May 25, 2025

Former state university employee Jenkot paid in $179K to pension fund, could collect $4.06M in retirement

Shutterstock 450769633

Former state university employee Gerald Jenkot, who retired in December 2017, saved $179,229 toward a pension over 30 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jenkot would collect as much as $4.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jenkot received $85,311 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jenkot will have already received $263,687 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS