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Sangamon Sun

Monday, May 12, 2025

Former state university employee Wong paid in $2K to pension fund, could collect $77K in retirement

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Former state university employee Jerry Wong, who retired in January 2018, saved $2,319 toward a pension over 7 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wong would collect as much as $76,501, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wong received $1,608 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wong will have already received $3,264 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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