Quantcast

Chicago City Wire

Friday, May 30, 2025

Former state university employee Jenkins paid in $121K to pension fund, could collect $2.21M in retirement

Shutterstock 65427295

Former state university employee Charles Jenkins, who retired in May 2018, saved $120,506 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jenkins would collect as much as $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jenkins received $46,506 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jenkins will have already received $143,745 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS