Former state university employee Mrjenovich paid in $62K to pension fund, could collect $1.09M in retirement

By Local Labs News Service

Mar 1, 2018

Former state university employee John Mrjenovich, who retired in February 2018, saved $62,105 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mrjenovich would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mrjenovich received $22,968 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mrjenovich will have already received $70,992 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 Chicago

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