Chicago City Wire

Former state university employee Serafin Nava, who retired in March 2019, saved $80,872 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Nava would collect as much as $1.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Nava received $32,364 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nava will have already received $100,034 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.