Quantcast

South Cook News

Thursday, June 19, 2025

Former state university employee Junge paid in $39K to pension fund, could collect $698K in retirement

Money 05

Former state university employee Gwendolyn Junge, who retired in July 2018, saved $39,085 toward a pension over 16 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Junge would collect as much as $697,862, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Junge received $14,668 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Junge will have already received $45,337 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS