Quantcast

Chicago City Wire

Friday, May 23, 2025

Former state university employee Ferguson paid in $2K to pension fund, could collect $39K in retirement

Shutterstock 113962678

Former state university employee Jonathan Ferguson, who retired in May 2016, saved $1,748 toward a pension over 19 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Ferguson would collect as much as $39,255, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Ferguson received $825 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ferguson will have already received $2,551 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS