Chicago City Wire

Former state university employee Steven Preshion, who retired in February 2018, saved $14,947 toward a pension over 9 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Preshion would collect as much as $720,973, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Preshion received $15,154 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Preshion will have already received $15,154 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.