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Chicago City Wire

Sunday, June 1, 2025

Former state university employee Whalen paid in $30K to pension fund, could collect $567K in retirement

Money 06

Former state university employee Tracy Whalen, who retired in July 2018, saved $30,266 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Whalen would collect as much as $567,479, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Whalen received $11,928 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Whalen will have already received $36,869 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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