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North Cook News

Saturday, May 17, 2025

Former state university employee Prendergast paid in $314K to pension fund, could collect $6.1M in retirement

Money 04

Former state university employee Nancy Prendergast, who retired in October 2017, saved $314,035 toward a pension over 35 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Prendergast would collect as much as $6.1 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Prendergast received $128,259 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Prendergast will have already received $396,436 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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