Chicago City Wire

Former state university employee Joanmarie Fantozzi, who retired in March 2016, saved $78,567 toward a pension over 23 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Fantozzi would collect as much as $1.59 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Fantozzi received $33,362 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fantozzi will have already received $103,119 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.