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Kane County Reporter

Monday, November 25, 2024

Former state university employee Gondek paid in $83K to pension fund, could collect $2.03M in retirement

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Former state university employee Jane Gondek, who retired in January 2017, saved $82,773 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Gondek would collect as much as $2.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Gondek received $42,743 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gondek will have already received $86,768 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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