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Chicago City Wire

Saturday, August 2, 2025

Former state university employee Winkelmann paid in $31K to pension fund, could collect $456K in retirement

Money 03

Former state university employee Betsy Winkelmann, who retired in August 2018, saved $30,822 toward a pension over 14 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Winkelmann would collect as much as $455,542, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Winkelmann received $9,575 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Winkelmann will have already received $40,058 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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