Chicago City Wire

Former state university employee Margery Osborne, who retired in January 2016, saved $129,012 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Osborne would collect as much as $2.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Osborne received $52,787 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Osborne will have already received $163,160 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.