Former state university employee Winter paid in $21K to pension fund, could collect $687K in retirement

By Local Labs News Service

May 1, 2018

Former state university employee Robert Winter, who retired in April 2018, saved $20,687 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Winter would collect as much as $686,798, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Winter received $14,436 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Winter will have already received $29,305 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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University of Illinois at Chicago

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