Chicago City Wire

Former state university employee Peggy Kastner, who retired in July 2017, saved $49,404 toward a pension over 25 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Kastner would collect as much as $963,613, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Kastner received $20,254 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kastner will have already received $62,604 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.