Chicago City Wire

Former state university employee Ronald Olszewski, who retired in January 2016, saved $37,771 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Olszewski would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Olszewski received $33,227 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Olszewski will have already received $67,451 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.