Chicago City Wire

Former state university employee Timothy Spangler, who retired in July 2016, saved $182,307 toward a pension over 26 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Spangler would collect as much as $3.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Spangler received $77,320 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Spangler will have already received $238,989 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.