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Chicago City Wire

Thursday, July 3, 2025

Former state university employee Prost paid in $38K to pension fund, could collect $3.53M in retirement

Money 06

Former state university employee Jack Prost, who retired in June 2016, saved $37,584 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Prost would collect as much as $3.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Prost received $74,294 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Prost will have already received $74,294 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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