Chicago City Wire

Former state university employee David Peters, who retired in January 2016, saved $177,398 toward a pension over 22 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Peters would collect as much as $3.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Peters received $72,175 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Peters will have already received $223,085 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.