Quantcast

Chicago City Wire

Sunday, October 5, 2025

Former state university employee Garrelts paid in $42K to pension fund, could collect $538K in retirement

Money 08

Former state university employee Melinda Garrelts, who retired in September 2017, saved $41,775 toward a pension over 10 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Garrelts would collect as much as $537,524, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Garrelts received $11,298 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Garrelts will have already received $47,267 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

MORE NEWS