Chicago City Wire

Former state university employee Geraldine Genovese, who retired in January 2018, saved $17,234 toward a pension over 5 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Genovese would collect as much as $787,580, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Genovese received $16,554 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Genovese will have already received $33,605 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.