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Chicago City Wire

Saturday, August 2, 2025

Former state university employee Cupps paid in $55K to pension fund, could collect $1.14M in retirement

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Former state university employee Margaret Cupps, who retired in September 2018, saved $54,991 toward a pension over 24 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Cupps would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Cupps received $23,999 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cupps will have already received $74,179 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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