Chicago City Wire

Former state university employee Shahrzad Mahootian, who retired in July 2018, saved $150,276 toward a pension over 27 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Mahootian would collect as much as $3.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Mahootian received $71,371 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mahootian will have already received $220,600 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.