Chicago City Wire

Chicago City Wire

Wednesday, November 13, 2019

Former state university employee Jauhola paid in $61K to pension fund, could collect $1.68M in retirement

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By Local Labs News Service | Oct 1, 2016

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Former state university employee Barbara Jauhola, who retired in September 2016, saved $61,021 toward a pension over 28 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jauhola would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jauhola received $35,331 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jauhola will have already received $71,722 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Urbana Champaign

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