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Chicago City Wire

Sunday, May 25, 2025

Former state university employee Knorr paid in $216K to pension fund, could collect $3.18M in retirement

Money 02

Former state university employee Walter Knorr, who retired in September 2017, saved $215,517 toward a pension over 11 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Knorr would collect as much as $3.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Knorr received $66,817 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Knorr will have already received $279,540 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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