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Chambana Sun

Thursday, June 26, 2025

Former state university employee Jerrell paid in $102K to pension fund, could collect $2.29M in retirement

Money 02

Former state university employee John Jerrell, who retired in January 2016, saved $102,081 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jerrell would collect as much as $2.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Jerrell received $48,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jerrell will have already received $148,774 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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