Chicago City Wire

Chicago City Wire

Saturday, March 28, 2020

Former state university employee Junker paid in $9K to pension fund, could collect $658K in retirement


By Local Labs News Service | Feb 1, 2016

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Former state university employee Linda Junker, who retired in January 2016, saved $9,472 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Junker would collect as much as $658,453, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Junker received $13,840 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Junker will have already received $13,840 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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