Chicago City Wire

Former state university employee Jon Jones, who retired in January 2016, saved $6,602 toward a pension over 4 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Jones would collect as much as $520,151, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Jones received $10,933 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Jones will have already received $10,933 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.