Quantcast

Illinois Valley Times

Monday, April 28, 2025

Former state university employee Jagodzinski paid in $55K to pension fund, could collect $1.05M in retirement

Money041

Former state university employee Neil Jagodzinski, who retired in May 2018, saved $55,330 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jagodzinski would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Jagodzinski received $21,985 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jagodzinski will have already received $67,954 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS