Chicago City Wire

Former state university employee Kary Raines, who retired in January 2017, saved $105,312 toward a pension over 31 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Raines would collect as much as $4.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Raines received $91,281 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Raines will have already received $185,300 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.