Chicago City Wire

Former state university employee Ronald Carbonari, who retired in April 2018, saved $108,931 toward a pension over 29 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Carbonari would collect as much as $2.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Carbonari received $43,596 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carbonari will have already received $134,751 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.